Ethiopia’s economy hit as major clothing maker PVH closes shop
The Hindu
The company’s statement comes two weeks after U.S. President Joe Biden announced he would cut Ethiopia from a U.S. trade programme, the African Growth and Opportunity Act.
Ethiopia’s once rapidly growing economy is taking another hit because of its yearlong war as global clothing manufacturer PVH Corp. says it is closing its facility there because of the “speed and volatility of the escalating situation.” The company’s statement, emailed to The Associated Press, comes two weeks after , the African Growth and Opportunity Act, because of “gross violations of internationally recognised human rights.” The sanction goes into effect on January 1.
PVH, whose brands include Calvin Klein and Tommy Hilfiger, has been a marquee occupant of Ethiopia’s model industrial park in the city of Hawassa, where Africa’s second-most populous country has made clear its aspirations of rapid, Chinese-style development.
PVH in the past has said AGOA helped to convince it to set up in Ethiopia.
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