Press Release - Special Note: Happy 37th Anniversary to COSATU. Formed December 1985
The Congress of South African Trade Unions welcomes the successful AGOA Forum held from 2 to 4 November 2023 in Johannesburg. We support government's efforts to extend South Africa and other African countries' membership in AGOA and negotiate a new and enhanced AGOA that will increase the scope of products covered to further incentivise Africa and South Africa's economic and industrial development, job creation and decent work.
AGOA is renewed annually with AGOA itself due to expire in September 2025. Not only do US companies investing locally support 450 000 South African jobs; but even more indirect local jobs in the mining, manufacturing and agricultural sectors benefit from our large volumes of exports to the US. The revenues and taxes they generate contribute towards government's fiscus and thus its ability to fund badly needed public services and jobs.
AGOA has been important not only to South Africa's industrial development but also to those of other African states, in particular our neighbouring countries, e.g. Botswana who's direct exports to the US pale into insignificance compared to its value add exports to South Africa's auto-manufacturing sector which are then included in vehicle exports to the US.
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