WASHINGTON, Nov 6 (Reuters) - A trade program that grants exports from qualifying African countries duty-free access to the U.S. market should be extended by 16 years, said Democratic Senator Chris Coons, a leading voice on U.S.-Africa policy. Talks are underway for the renewal of the two-decade-old African Growth and Opportunity Act (AGOA), which is due to expire in 2025. African countries want a 10-year renewal of the pact ahead of the 2024 U.S. election. "My AGOA Renewal Act would extend this program, incentivizing investments that will create jobs, bolster economic development, and strengthen our standing in the region," Coons said in a statement. American business groups have said they need certainty over AGOA, so that African countries are able to take advantage of a global push to reduce dependence on Chinese manufacturing.

Source: The North Africa Journal November 06, 2023 13:11 UTC