South Africa will host the annual African Growth and Opportunity Act (AGOA) Forum in Johannesburg from Nov 2-4 to discuss the United States' flagship trade programme for the continent.
The African Growth and Opportunity Act is a U.S. trade initiative passed in 2000 under former President Bill Clinton to deepen trade ties with Sub-Saharan Africa and help African countries develop their economies.
A number of countries including Ghana, Kenya, Lesotho, Madagascar and Ethiopia have successfully used AGOA to boost exports to the U.S. and create jobs, especially in textiles.The United States benefits by furthering its interests on the continent. Countries that undermine U.S. national security or foreign policy interests are not eligible for AGOA.Only about half the eligible countries have developed national AGOA utilization strategies, and the majority of exports come from just a few.
Some analysts say that AGOA has had a positive impact, but that it needs to be updated and improved to include newer industries such as technology and digital services.One of the main topics likely to be in focus at the forum is whether or not to extend AGOA. African countries are pushing for an early 10-year extension without changes in order to reassure businesses and investors who might have concerns over AGOA's future.
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