THE EAST AFRICAN
In a long-awaited vote, the U.S. Congress moved to extend the African Growth and Opportunity Act (AGOA) by 10 years.
“AGOA has been called ‘the cornerstone’ of the U.S.-Africa economic relationship, and on this stone we will build an even more lasting and stronger commitment,” reads a statement issued by U.S. Congresswoman Karen Bass, who is the ranking member of the Africa subcommittee.
The House of Representatives and the U.S. Senate voted “overwhelmingly to reauthorize AGOA [in June 2015], sending the legislation to the President and guaranteeing a seamless and long-term extension of this vitally important law,” Bass said.
The renewal and extension of AGOA is expected to give African countries ample time to build competitive capacity in the global market. It accords preferential market status to 38 countries in Sub-Saharan Africa, giving them duty-free access to U.S. markets for certain goods such as textiles.
The initiative was signed into law in 2000 to allow African countries to export a wide range of products to the United States. The agreement allows African countries to export more than 6,000 products to the U.S. duty free.
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