US commits to deepening relations with Africa through Agoa

Cape Town – In the face of difficult global economic conditions, Katherine Tai, the United States Trade Representative, envisions an opportunity to craft a robust and innovative framework for US-Africa trade, one that is inclusive of a broader spectrum of society. “[A vision] where, as President [Joe] Biden would say, ‘the benefits are realised from the bottom up and the... Read more → The post US commits to deepening relations with Africa through Agoa appeared first on African Insider.

Nov 4, 2023 - 12:47
US commits to deepening relations with Africa through Agoa

Cape Town – In the face of difficult global economic conditions, Katherine Tai, the United States Trade Representative, envisions an opportunity to craft a robust and innovative framework for US-Africa trade, one that is inclusive of a broader spectrum of society.

“[A vision] where, as President [Joe] Biden would say, ‘the benefits are realised from the bottom up and the middle out,” Tai told delegates on Friday.

She was speaking at the African Growth and Opportunity Act (Agoa) Forum.

Tai expressed support for the African Continental Free Trade Area (AfCFTA) and announced that the US is providing around $160 million to support its negotiation and implementation.

This came after the AfCFTA Secretary General, Wamkele Mene, and Tai signed the MoU during the summit.

“We created four Technical Working Groups, and the US government is providing approximately $160 million to support the negotiation and implementation of the AfCFTA,” Tai said.

This included support from the United States Agency for International Development, the US Department of Agriculture, and Prosper Africa.

“The United States is here to build and enhance our relationships so that more Africans can enjoy the benefits of economic growth, to empower workers and their communities, and to build fair and equitable societies, not just for today, but for years to come,” said Tai.

She called for collaboration to unlock the partnership’s potential for sustainable and equitable growth, particularly for women, youth, and the African diaspora.

Tai highlighted the significance of Agoa as a vehicle for economic recovery in the wake of the Covid-19 pandemic and noted positive developments, such as the AfCFTA and African Union joining the G20.

She also commended South Africa’s role as a top Agoa exporter and its commitment to human rights. AGOA has contributed to economic growth, increased investment, and job opportunities in Africa.

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Compiled by Betha Madhomu

The post US commits to deepening relations with Africa through Agoa appeared first on African Insider.

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