Public Management

U.S./Africa: African Union advocates for a "no-change" renewal of the AGOA program

U.S./Africa: African Union advocates for a "no-change" renewal of the AGOA program
Saturday, 04 November 2023 03:57

Several American officials, including the U.S. Deputy Trade Representative for African Affairs, have announced in recent months that the Biden administration aims to review the AGOA or replace it with a new trade agreement.

The African Union (AU) called on Thursday, November 2, for the U.S. Congress to renew the African Growth and Opportunity Act (AGOA), a trade preference program granted by the United States to Sub-Saharan African countries since 2000, for at least an additional ten years without making any changes.

"[An extension of] 10-20 years is very critical to the investment community. Anything lower than that would generate uncertainty,” said Albert Muchanga, AU Commissioner for Economic Development, Trade, Industry, and Mines during the 20th AGOA Forum held in Johannesburg. Muchanga also indicated that "if there are any enhancements to be made, those should be done after the extension”.

Launched in May 2000, the AGOA program enables eligible Sub-Saharan African countries to export over 1,700 products to the United States without paying duties. These products add to about 5,000 other items that can access the American market duty-free under the generalized system of preferences.

Each year, Washington updates the list of AGOA-eligible countries, considering their commitment to market economies, respect for the rule of law, and poverty alleviation policies. The initiative also takes into account the democratic progress or setbacks of the countries involved.

With the AGOA program set to expire in September 2025, several African nations are advocating for an early ten-year extension without changes to reassure businesses and new investors. Renewing the trade preference system is also supported by some members of the U.S. Congress, who fear that revising the program might delay or jeopardize its renewal.

In late September, U.S. Senator John Neely Kennedy introduced a bill in the upper house of Congress proposing the extension of AGOA until 2045. He mentioned that the program will greatly help Americans counter the increasing influence of China in Sub-Saharan Africa.

However, several U.S. officials, including Deputy U.S. Trade Representative for African Affairs Constance Hamilton, have advocated in recent months for the revision or replacement of AGOA with a new trade agreement.

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
REGIDESO and Singapore-based EFGH signed a service framework agreement to digitalize revenue collection nationwide. The partnership will develop secure...
Cameroon prioritizes external debt to protect credit standing, delays local payments Domestic repayments to worsen in 2026 as IMF loan payback...
Government seeks CFA3104.2 billion in fresh financing for 2026 Funding need rises by CFA777.7 billion compared with last year Debt risk...
Spending plan reaches CFA8816.4 billion, up 14% from 2025 Special Accounts nearly double after creation of a new women and youth...
Most Read
01

S&P upgrades Zambia to CCC+ as debt talks advance and copper output rebounds. About 94% of $...

S&P Raises Zambia’s Foreign-Currency Rating to CCC+
02

Anthropic, Rwanda’s government, and ALX launched Chidi, an AI mentor built on Claude. It wi...

Anthropic Partners with Rwanda, ALX to Deploy Claude-Powered AI Learning Companion Across Africa
03

Government, ESCWA, and experts meet to shape national framework Plan aims to fight corruption, c...

Mauritania Advances Blockchain Policy to Modernize Digital Public Services
04

Vodacom Tanzania launches M-Pesa Global Payments, enabling seamless international transactions thr...

Tanzania’s Mobile Money Goes Global: Vodacom Partners with Visa, Alipay, and MTN
05

(MCB) - The Mauritius Commercial Bank Limited (“MCB”) has successfully granted a strategic financing...

MCB deploys strategic financing to Invictus Investment to scale up its agro-food operations in Africa
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.