Policymakers in Pretoria, Nairobi and Maseru are holding their breath as the latest renewal of the African Growth and Opportunity Act (AGOA) makes its way through the partisan gridlock of the US congress.
In the budget sent to the US Congress earlier this month, the Obama Administration backed a full renewal of AGOA, calling for lawmakers to enact a 15-year extension. To renew AGOA, legislation must first be tabled in various committees in the US Senate and the House. Once they pass out of those committees, the legislation would move to consideration to the full membership of those respective chambers.To date, the length of the renewal still remains undecided and some observers indicate that this will likely be proportional to the amount of funding that will be made available. Read more. Source | International Centre for Trade and Sustainable Development