Africa's better future
Katherine Tai, US trade representative, Cyril Ramaphosa, and Ebrahim Patel, arrive at the African Growth and Opportunity Act forum in Johannesburg on Friday, Nov. 3, 2023. Photo by Leon Sadiki/Bloomberg via Getty Imageshas not moved on from talks of reciprocal access to duty free in Africa for its exports, deputy assistant secretary at the US bureau of African affairs Joy Basu said.
“Maybe through Agoa, maybe through other trade programmes. I think conversations will continue. We need to think about the right channels for all of them,” she said.commented on the call for reciprocal access by the US government during the Agoa forum, saying that it would not be possible. “We point out that African countries are significant suppliers of raw materials to the US. That is a benefit that the US obtained. The US companies find greater access to investment opportunities in the continent as a result of Agoa, which provides a significant flow of dividends from sub-Saharan countries to the US. American suppliers are often integrated in these value chains,” Patel said.
South Africa is in the third term of its Agoa trade agreement with the US and is awaiting approval on its application for an early extension. The pact provides duty-free product coverage for 1 835 products across sub-Saharan Africa. In 2021, South Africa’s total goods exports to the US amounted to $15.4 billion. Agoa benefits include job creation in agriculture and manufacturing, export earnings and economic development.
“We need to make sure that there is increased awareness particularly for small businesses and particularly for women-owned enterprises.”
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