The South African Minister of Trade and Industry, Dr Rob Davies, has emphasised the importance of export diversification and industrialization in Africa.
He was speaking in Addis Ababa, Ethiopia recently, where he was moderating the Africa Trade Week Panel Discussion on Africa Growth and Opportunity Act (AGOA) and the Continental Free Trade Area (CFTA).
The session considered AGOA implementation over the remaining period of the legislation granting the trade preference up to 2025. It also reflected on the future of Africa-US trade relations beyond AGOA based on the type of trade arrangements that would support Africa’s regional integration agenda. Minister Davies said African countries need to increase their utilisation of the trade preferences granted by the United States (US) under AGOA to attract Foreign Direct Investments into priority sectors that are eligible under AGOA and that can favour industrialisation. Read more. Source | Biz Community