A meeting on the African Growth and Opportunity Act (AGOA) is currently underway in Libreville, Gabon, a port city near the Gulf of Guinea — one of the most oil rich areas on the continent.
The AGOA meeting comes at a time when many African countries that rely heavily on commodity exports are facing economic challenges as prices fall on the international market and their main export market in China faces a slowdown.
AGOA was enacted in May 2000 to enable African countries access the US market duty free. The Act was renewed by the US Congress for another 10 years in June after the initial 15-year deal expired. Read more. Source | AFK Insider