African trade ministers are urging the United States to overhaul the sweeping trade deal that has opened the US market to African products and renew it this year rather than waiting until the duty-free pact expires in 2025. Renewing the African Growth and Opportunity Act AGOA immediately would remove uncertainty about the future of the pact and allow for suppliers and partners to better plan and maintain investments in African economies, ministers said during this week’s U.S.-Africa Business Summit in Botswana. The uncertainty around the future of AGOA has a real world impact on the decisions made by businesses and economies trying to take advantage of its preferential terms to gain entry to the world’s largest economy. Africa’s share of global textile manufacturing has doubled under AGOA. the final decision on AGOA’s renewal will be up to U.S. Congress for approval. On the one hand, African matters are one of the few topic areas where there is almost always bipartisan support. On the other, African matters are often not a priority which could mean we’re still here in September 2025 waiting for renewal.
African Trade Ministers Urge the United States to Relook the Terms of AGOA
- AFRICA TOP 10
- 1 min read