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South Africa pushes for renewal of AGOA
Apr '15
Rob Davies (centre) addressing media/Courtesy: The DTI
Rob Davies (centre) addressing media/Courtesy: The DTI
South Africa is leading the campaign for the renewal of the African Growth and Opportunities Act (AGOA), a non-reciprocal trade preference scheme that provides duty-free treatment to US imports of certain products from eligible sub-Saharan African (SSA) countries.
In Washington, South African trade and industry minister Rob Davies said, “AGOA is the cornerstone of bilateral relations between the United States and SSA, as it provides the sole platform between the US and SSA to discuss ways and means to deepen trade and investment relations. It is for this that South Africa together with SSA countries has been calling for a 15-year renewal of AGOA for all eligible countries without any conditions.”
AGOA which came into force in 2000 after the US Congress approved a legislation, expires in September this year.
Davies said he believes that the AGOA played a role in promoting bilateral trade and investment amongst South Africa, United States and SSA. “The benefits of AGOA are bilateral and that is why it is important to renew the programme for all eligible countries with South Africa included as a beneficiary country,” he said.
The US is South Africa’s third largest trading partner. “Our message is that AGOA has generated enormous goodwill for the US in the continent and if renewed more can still be done,” Davies said. (SH)

Fibre2fashion News Desk - India

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