A recent bilateral trade agreement between the United States and Nigeria has facilitated increased exports of hand-hooked textiles, including rugs and carpets, from Nigeria to the US under favorable tariff conditions.
2023-10-15
Impact: This agreement is expected to enhance market access for Nigerian artisans, potentially increasing export volumes of hand-hooked products by 15% over the next year.
Nigeria's Hand-Hooked Carpet Industry Gains US Market Attention
A US trade delegation visited Nigeria to explore partnerships in the hand-hooked carpet sector, highlighting the quality and craftsmanship of Nigerian products at a trade fair in Lagos.
2023-09-22
Impact: Increased visibility and potential investment could lead to a surge in demand for Nigerian hand-hooked textiles in the US, fostering job creation in local communities.
US Importers Show Interest in Nigerian Hand-Hooked Rugs
Several US-based home decor companies have expressed interest in importing hand-hooked rugs from Nigeria, citing unique designs and competitive pricing at a recent international trade expo.
2023-08-10
Impact: This growing interest may result in new trade contracts, boosting Nigeria's export revenue and strengthening trade ties with the US in this niche sector.
Policy Updates
US Revises Tariff Rates for Hand-Hooked Textile Imports
The US International Trade Commission announced a reduction in tariff rates for hand-hooked textiles (HS Code: 5703.10) from developing countries, including Nigeria, under the African Growth and Opportunity Act (AGOA), effective from January 2024.
Date: 2023-11-01
Nigeria Updates Export Guidelines for Handicraft Textiles
The Nigerian Export Promotion Council introduced new quality control and certification requirements for hand-hooked textiles to ensure compliance with international standards, aiming to boost credibility in markets like the US.
