AfCFTA is a statement by Africans saying that they want to take control, own and have a view of their own economic relationships, and as a continent, have slightly more power regarding their trade. Countries want to exploit these benefits to grow faster and create jobs.
AGOA, for instance, was opened to 49 countries, and though 35 tried to take advantage of it, only seven are benefiting. The AfCFTA will help with these negotiations and tell our international partners that they need to bring more to the table, not less. Read more. Source | East African
US firms are among exhibitors set to debut in the seventh edition of the International Flower Trade Expo (Iftex) in Nairobi, thanks to the impending launch of direct flights to US in October.
Iftex says the merchants want to take advantage of the flights by Kenya Airways to New York to cut the long process of getting produce through Amsterdam.The expo to be held next month comes at a time Kenya is trying to diversify its market from Europe to Asian countries seen as a potential market for cut flowers. Read more. Source | Business Daily
In an effort to assist the economies of sub-Saharan Africa and to facilitate trade between the region and the United States, the U.S. government initiated in the year 2000 the African Growth and Opportunity Act, or AGOA. Under the Act, regional trade hubs, or technical assistance centers, were created. The USAID Trade and Investment Hubs, located in Ghana, South Africa and Kenya, assist, enhance and broaden the flow of trade between the United States and Africa.
The hubs, which are managed by the U.S. Agency for international Development, bring together African and U.S. businesses to attract investment to Africa and promote two-way trade between the U.S. and African countries, creating jobs and generating income for all of us. Read more. Source | Voice of America
Kenya plans to review its trade strategy to boost exports to the United States, officials said on Thursday. Chris Kiptoo, Principal Secretary in the Ministry for Trade, told a media briefing that the first African Growth and Opportunity Act (AGOA) strategy for Kenya was developed in 2012.
“We are conducting an in-depth review of the current strategy in order to take stock of its implementation and success as well as to suggest interventions to boosting exports to the United States,” Kiptoo said.
“Furthermore, within the new dispensation of devolved system of government, the strategy will collaborate with the county governments, as appropriate, to exploit the potential market,” he said during the validation workshop on the national AGOA strategy review. Read more. Source | CoastWeek
This Administration seeks to do business not just in Africa, but with Africa, moving the focus of our economic relationship with the continent from aid to trade and investment. Trade will be free, fair, and reciprocal, and our investors will be more competitive. This is about creating jobs for both Americans and Africans throughout the continent.
One of our most important bipartisan endeavors in the economic arena is the African Growth and Opportunity Act, or AGOA. AGOA has been the cornerstone of U.S. economic engagement with countries of sub-Saharan Africa since 2000. Read more. Source | U.S. Department of State
The government of Rwandan has opened talks with the United States on the review of the American Growth and Opportunities Act (AGOA) in a bid to ensure continued duty-free access to the US market.
In July this year, the American began an out of cycle review on the eligibility of Rwanda and other East African Community partner states following a move by the region to phase out and eventually ban import of second hand clothes.
This move was aimed at supporting the regional textile industry and preserving the dignity of the East African citizens.
As part of the move, Rwanda last year increased taxes on used clothes from $0.2 to $2.5 per kilogramme, while taxes on used shoes will increase from $0.2 to $3 per kilogramme. Read more. Source | New Times
United States Trade Representative Robert Lighthizer is leading the US delegation at the 2017 African Growth and Opportunity Act (AGOA) Forum, being held August 8 to 10 in Lomé, Togo.
Established by AGOA legislation, the annual forum provides a platform for promoting stronger economic ties between the United States and qualifying sub-Saharan African countries that receive enhanced US market access under AGOA.
AGOA, a 2000 law, provides non-reciprocal trade preferences for eligible countries in sub-Saharan Africa. It has been a cornerstone of US policy toward the continent for the last three administrations. The premise behind AGOA is that Africa has opportunities worth US attention and investment. Read more. Source | Global Trade 101
Senior Bureau Official for African Affairs Peter Barlerin will travel to Togo from August 7 – August 10 as part of the delegation led by U.S. Trade Representative Robert Lighthizer to attend the 2017 African Growth and Opportunity Act (AGOA) Forum, held August 8-10 in Lomé, Togo.
Established by AGOA law, the annual forum provides a platform for promoting stronger economic ties between the United States and qualifying sub-Saharan African countries that receive enhanced U.S. market access under AGOA. The theme of this year’s Forum is “The United States and Africa: Partnering for Prosperity through Trade.” The Forum begins with events incorporating private sector, civil society, and U.S.-sponsored African Women’s Entrepreneurship Program (AWEP) participants, followed by two days of ministerial plenaries with representatives from the United States and the 38 African beneficiary countries. Read more. Source | US Department of State
The United States and Togo will co-host the African Growth and Opportunity Act (AGOA) Forum in Lomé, Togo August 8-10. The Forum will bring together senior government officials from the United States and 38 Sub-Saharan African AGOA-eligible countries to discuss ways to boost economic cooperation and trade between the United States and Africa. The African Union and regional economic communities will also participate.
The theme of this year’s Forum is “The United States and Africa: Partnering for Prosperity through Trade.” The 2017 Forum will explore how countries can continue to maximize the benefits of AGOA in a rapidly changing economic landscape, and highlight the important role played by women, civil society, and the private sector in promoting trade and generating prosperity.
Representatives from the private sector, civil society, and the U.S.-sponsored African Women’s Entrepreneurship Program (AWEP) will participate in Forum activities August 8-9. The Ministerial plenaries will follow on August 9-10, bringing together senior government officials from the United States and the 38 African beneficiary countries. Read more. Source | US Department of State
In a bid to benefit from the African Growth and Opportunity Act (AGOA) extension, US companies will now partner with Ugandan companies especially in agribusiness.
The business partnerships are expected to step up Uganda’s production and capacity of the agricultural sector, levels of trade and investment between the two countries.
This was one of the outcomes during the meeting between the US agricultural trade mission and the Private Sector Foundation Uganda stakeholders in Kampala last week. Read more. Source | Daily Monitor