A call was made for the trade agreement between the US and some African countries to be extended beyond 2025 by another 20 years during the AGOA Forum over the weekend.
JOHANNESBURG - President Cyril Ramaphosa said the extension of the African Growth and Opportunity Act beyond 2025 would diversify African economies and allow for more production on the continent.
The 20th AGOA Forum concluded on Sunday in Johannesburg, where a call was made for the trade agreement to be extended by another 20 years. In his weekly newsletter on Monday, Ramaphosa said AGOA was an important and instrumental tool in improving the country's economy and would allow for further development in value chains across different countries.Ramaphosa said that the extension of the act between African countries and the United States would improve the export competitiveness of the continent’s products.
The president expressed his anticipation for further engagement on the reauthorisation of AGOA, as its benefits continue to support economic growth on the continent.
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