Trade and Industry Minister Parks Tau on Tuesday welcomed the approval by the US House of Representatives of a bill to renew the African Growth and Opportunity Act (Agoa) for another three years, calling it a positive step for trade relations and economic stability.
Agoa, first introduced in 2000, provides eligible sub-Saharan African countries with duty-free access to the US market for a wide range of products. The programme expired in September, raising concerns across the continent, as hundreds of thousands of jobs are estimated to depend on its continuation.
Tau said the renewal would bring much-needed certainty and predictability for both African and American businesses that rely on the preferential trade framework. He noted that the programme has played a crucial role in supporting exports, industrial growth and employment in participating African economies.
The minister added that Africa’s largest economy is still engaged in negotiations with the United States over a separate bilateral trade agreement, despite strained relations with Washington during President Donald Trump’s second term.
The Agoa renewal bill will now move to the US Senate for consideration before being sent to President Trump for a final decision.