HUB FACT SHEETS, INFOGRAPHICS & SUCCESS STORIES Trade & Investment News Read Our Blog Newsletters

Encouraging signs on AGOA renewal in Washington

Published on April 07, 2015

With just months to go before the expiration of the African Growth and Opportunity Act (AGOA), discussions have been heating up in Washington, DC on how to proceed with a renewal. Policymakers in Africa and the US have indicated for years the importance of extending the legislation well before its September 2015 expiration, noting that orders of African goods in certain sectors, like textiles and apparel, must be made nine months in advance. Failing this, exporters could face both job losses and declining exports in the absence of having surety that the legislation would continue to exist. These timelines mean that ideally a vote on AGOA should have taken place before the December 2014 recess of Congress. However, the US mid-term election season prevented this from occurring. The next few weeks present a critical period during which billions of dollars of exports and hundreds of thousands of jobs hinge on Congress acting quickly. Read more. Source | African Development Bank