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AU - USA
Africa-US (AGOA)
The African Growth Opportunity Act (AGOA) was signed into law in May 2000 by the President of the USA. The Act offers tangible incentives for African countries to continue their efforts to open their economies and build free markets. It is the most bilateral access to the U.S. market available to any country or region with which the United States does not have a free Trade Agreement. It supports U.S. business by encouraging reform of Africa’s economic and commercial regimes, which will build stronger markets and more effective partners with U.S. firms.
Since its establishment, AGOA has gone through three amendments; AGOA II in 2002, which substantially expanded preferential access for imports from beneficiary African countries; AGOA III, which provides for an Acceleration Act, extends preferential access for imports from beneficiary countries until September 2015 and the African Investment Incentive Act (AGOA), referred to as “AGOA IV”. The legislation extends the third country fabric provision for an additional five years, from September 2007 until September 2012; adds an abundant supply provision, designates certain denim articles as being in abundant supply; and allows lesser developed beneficiary African countries export certain textile articles under AGOA.
An AGOA Implementation Subcommittee of the Trade Policy Staff Committee (TPSC) was established to implement AGOA. Among the most important implementation issues are the following:
· Determination of country eligibility;
· Determination of the products eligible for zero tariff under expansion of the Generalized System of preferences (GSP);
· Determination of compliance with the conditions for apparel benefits;
· Establishment of the U.S.-Sub-Saharan Africa Trade and Economic Forum; and
· Provisions for technical assistance to held countries qualify for benefits.
Taking into account that this cooperation is governed by an Act of the United States Congress and it is bilateral in nature, AGOA is not considered within the context of the African Union’s Strategic Partnerships. The African Union aims to develop proper partnership with the U.S. to reflect the on-going Strategic Engagement between the two sides, including AGOA.
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