AGOA BY KOKETSO MAMABOLO
South Africa to host AGOA Summit in November
T
he African Growth and Opportunity Act (AGOA) has been a critical feature of US-Africa trade relations over the past two decades, providing businesses on the continent with access to the US market. This year’s AGOA Summit, which will be held in Johannesburg, from 2 - 4 November, comes at a time when economic relations between Africa and the rest of the world have been in the spotlight.
In 2022, the flow of goods between the US and Africa reached $46.5-billion, $30-billion of which came from the 35 eligible countries, continuing the trend of a trade surplus in favour of the African countries. The Act covers almost 2 000 products, offering dutyfree access to African businesses. AGOA’s importance to US-Africa trade relations was highlighted by the US Congress extending the
28 | Public Sector Leaders | October 2023
programme to 2025. “The future is Africa,” said US President Joe Biden, speaking about this year’s summit. “I look forward to visiting South Africa in November to discuss our shared priorities, reaffirm the Administration’s commitment to the continent and discuss opportunities to make AGOA more transformative as we deepen our trade and investment relations
