Cape Town – Trade, Industry, and Competition Minister, Ebrahim Patel, has announced the country’s readiness to host the 20th African Growth and Opportunity Act (Agoa) forum in Johannesburg.
The Agoa forum is aimed at discussing and renewing the trade relationship between the African continent and the United States.
Patel highlighted the importance of complementing Agoa with other measures and expressed South Africa’s desire to have it renewed for an additional 10 years.
“What we are seeking to do is provide a platform in the discussion to reflect on the experience that the African continent and the US has had on Agoa, to look at how we can get more from the trade relationship by complementing Agoa with other measures and the common African position on Agoa, which is to have it renewed for an additional 10 years,” Patel said on Thursday while speaking to journalists on the state of readiness to host the forum on November 2-4.
Agoa, initially launched in 2000, provides preferential access for sub-Saharan African countries to the US market and is set to expire in 2025.
The forum will feature a US delegation led by Trade Secretary Ambassador Katherine Tai, members of Congress, business leaders, labor representatives, and others.
The discussions will focus on various topics, including easing business access to Agoa, joint export strategies, agriculture, food security, manufacturing, health products, and diversifying global supply chains.
South Africa sees the US as a significant market for its products and a vital trading partner. The two countries also have strong investment and political relations beyond trade.
Follow African Insider on Facebook, Twitter and Instagram
Picture: X/@the_dtic
For more African news, visit Africaninsider.com
Compiled by Betha Madhomu
