The African Growth and Opportunity Act (AGOA) has served as the cornerstone of the US-Africa commercial and trade relationship for more than two decades.
More than 30 countries benefit from the trade pact, with the agriculture and manufacturing industries at the forefront. AGOA must recalibrate to meet the continent’s new demands aka AGOA plus
Hon Ebrahim Patel Minister of Trade and Industry in South Africa said the “Africa needs more industrialisation, more value edition on the continent and can do so in partnership with friends from other parts of the world but we must take the lead. So we can work in partnership with US investment and technology ”
“The great industrial opportunity lies instead in the transformation of rock and metal into the sophisticated industrial and consumer goods that societies across the world need” President Cyril Ramaphosa .
• Create incentives to stimulate industry growth and ensure each African country is globally competitive (power, land, labour, water) .
• Africa’s population is expected to double by 2050. We need to create high quality jobs for the growing population in Africa.
• Harmonize AGOA eligibility reviews with other U.S. government preference programs like USEximbank, DFC, USDA
• Term of new agreement to be at least 10 years, 20 years preferred
• Third country origin fabric rule is critical to developing the industry in Africa, until vertical integration (at scale) is achieved.
Amcham was privileged to be part of these discussions and fostering economic engagement with other industry leaders.
We are thankful for the presentation of Ambassador Charles Stith Chairman of Pula Group, US Chamber Kendra Gaither . President of Corporate Council on Africa Florie Liser for their support representing the voice of private sector.
Very warm thank you to Policymakers, Representative from the Government of Tanzania. Minister of Industry and Trade Hon Ashatu Kijaji , Deputy Minister Hashil Abdallah and TZ Ambassador to the US Amb.