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The African Growth and Opportunity Act renewal of 2015 is released

Published on April 20, 2015

Senators Orrin Hatch (R-UT), the chairman of the U.S. Senate Finance committee, and Ron Wyden (D-OR), the ranking member, joined Representative Paul Ryan (R-WI), chairman of the U.S. House Ways and Means Committee, on 16th March 2015  announced the issuance of the long-anticipated renewal of the African Growth and Opportunity Act (AGOA). While the full text of the “AGOA Renewal Act of 2015” is not yet publically available, key provisions of the legislation have emerged, including the greater ability of the United States to “crack down on bad actors” as part of enhanced country eligibility processes. Moreover, the bill provides for a 10-year extension of AGOA’s trade preferences, as well as expanded rules of origin to support Africa’s regional integration agenda, and efforts to address “unfair practices by the European Union that condition African access to the European market on signing imbalanced and substandard trade agreements.” Read more. Source | Brookings