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    Africa Pushes for AGOA to be Extended by 10 Years

    Eunniah
    By Eunniah Mbabazi
    - December 15, 2022
    - December 15, 2022
    African Wall StreetTrade
    Africa Pushes for AGOA to be Extended by 10 Years

    Africa is pushing for the African Growth and Opportunity Act (AGOA) with the US extended by ten years.

    The AGOA is a key trade deal that gives African countries expanded duty free access to the US market, with Kenya being one of the biggest beneficiaries.

    During a ministerial engagement in Washington DC, on the sideline of the US-Africa leaders summit, ministers from the continent said the Act should be extended to 2035.

    The AGOA treaty was initially intended to last 15 years from the year 2000. It was however extended for 10 years to September 2025.

    The deal allows sub-Saharan African countries to export thousands of products to the US under preferential terms that eliminates tariffs.

    According to the ministers, AGOA is the cornerstone for US-Africa bilateral trade relations, and vital to the development of regional, continental, global value chains, the African Union economic arm said. 

    The move, they say will also allow the continent align its trade and investment with the US under the African Continental Free Trade Area (AfCFTA).

    Kenya is among the biggest beneficiaries of the AGOA program which gives the country and 40 other sub-Saharan African countries duty-free access to the US market for over 7,000 products.

    See Also:

    Kenya Seeks Temporary Partnership with the US Ahead of Fully Fledged Trade Deal

    The Kenyan Wall Street

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