Madagascar’s reinstatement to the AGOA - Reduced risk

Found this article advising that Madagascar has been re-admitted to the AGOA. It has references to Energizer Resources but it also relates to Malagasy Minerals as it reduces Madagascar's risk profile and also inserts some money into the Madagascan economy. Malagasy minerals still has plenty of land and it we find something big, it should help us get a better price for it.

Link to the Article

Highlights:

- On June 26, Barack Obama signed a presidential order to restore Madagascar to AGOA. The restoration should help Madagascar improve its overall economic situation, especially as far as companies operating in free zones are concerned.

- AGOA, first introduced in 2000, aims to facilitate the access of Southern African products to the United States through favorable tax treatment – exemptions from customs duties for more than 70% of revenue.

- Madagascar’s reinstatement to the AGOA trade regime is an important new step in the normalization of the country’s foreign relations. It comes just weeks after the resumption of relations between the IMF and Antananarivo after five years of suspension, through the approval of an emergency loan of $ 47 million. The World Bank has announced the resumption of its aid to the country and the mobilization of funding $ 400 million over three years.


As usual DYOR.