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EAC seeks long term US deal

Published on October 28, 2015

The East African Community (EAC), is pushing for a long-term preferential trade agreement with the United States to eliminate the fear of unilateral withdrawal of the Africa Growth and Opportunity Act (AGOA) by the Federal government.

Trade  between the EAC and the US reached $2.8 billion in 2014. The US exported $2 billion worth of goods ,but only imported $743 million in items.

EAC believes the limitation of AGOA is that it is unilateral and can be withdrawn anytime. This year the US extended the AGOA up to September 30, 2025, but the EAC thinks that this span of 10 years is insufficient for increasing trade volume by leaps and bounds. Read more. Source | East African