AGOA And AfCFTA: Unlocking Business Potentials Between United States And Africa – OpEd
==========
United States Trade Representative Katherine Tai will host the 21st US–sub-Saharan Africa Trade and Economic Cooperation Forum (AGOA Forum) in Washington, D.C., from July 24 to 26. The theme for July’s AGOA Forum is “Beyond 2025: Reimagining AGOA for an Inclusive, Sustainable and Prosperous Tomorrow.” The expectation is that the AGOA Forum will bring together the governments of the United States and AGOA-eligible countries, as well as representatives from key regional economic organizations, civil society, labor, and the private sector. The Corporate Council on Africa (CCA) is the leading U.S. business association focused solely on connecting business interests in Africa. In 2023, CCA organized a business summit which was a tremendous success in Botswana, southern Africa. Some African strategists and research analysts indisputably believe that remittance flows is definitely one of the surest reliable sources of foreign exchange, depending solely on the dollar currency, to support trade. In its latest report in June, the World Bank indicated that, despite the geopolitical uncertainties, instability and challenges, sub-Saharan Africa’s remittance flow reached $54 billion in 2023. Discussions over the reauthorization of the African Growth and Opportunity Act (AGOA), a cornerstone of U.S. efforts to cultivate deeper economic relations with sub-Saharan Africa, allowing countries there export certain products to the U.S. duty-free. Last July, the Biden administration reported facilitating more than 900 deals across 47 African countries since 2021, for an estimated $22 billion in two-way trade and investment. Also, the U.S. private sector sealed investment deals exceeding $8.6 billion. Over the years, African leaders have been engaging with their diaspora, especially those excelling in sports, academia, business, science, technology, engineering and other significant fields that the continent needs to optimize its diverse potentials and to meet development priorities.
#Agoa #Afcfta #Trade #EconomicCooperation #UnitedStates #Africa
https://www.eurasiareview.com/03072024-agoa-and-afcfta-unlocking-business-potentials-between-united-states-and-africa-oped/
Eurasia Review /
npub1wc…jzsfw
2024-07-03 17:12:37
Author Public Key
npub1wc7d8ck45cw5jgdwx6du933w2eqtgpmyvxgk6wtmzdghtpwrx2cqejzsfwPublished at
2024-07-03 17:12:37Event JSON
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"content": "AGOA And AfCFTA: Unlocking Business Potentials Between United States And Africa – OpEd\n==========\n\nUnited States Trade Representative Katherine Tai will host the 21st US–sub-Saharan Africa Trade and Economic Cooperation Forum (AGOA Forum) in Washington, D.C., from July 24 to 26. The theme for July’s AGOA Forum is “Beyond 2025: Reimagining AGOA for an Inclusive, Sustainable and Prosperous Tomorrow.” The expectation is that the AGOA Forum will bring together the governments of the United States and AGOA-eligible countries, as well as representatives from key regional economic organizations, civil society, labor, and the private sector. The Corporate Council on Africa (CCA) is the leading U.S. business association focused solely on connecting business interests in Africa. In 2023, CCA organized a business summit which was a tremendous success in Botswana, southern Africa. Some African strategists and research analysts indisputably believe that remittance flows is definitely one of the surest reliable sources of foreign exchange, depending solely on the dollar currency, to support trade. In its latest report in June, the World Bank indicated that, despite the geopolitical uncertainties, instability and challenges, sub-Saharan Africa’s remittance flow reached $54 billion in 2023. Discussions over the reauthorization of the African Growth and Opportunity Act (AGOA), a cornerstone of U.S. efforts to cultivate deeper economic relations with sub-Saharan Africa, allowing countries there export certain products to the U.S. duty-free. Last July, the Biden administration reported facilitating more than 900 deals across 47 African countries since 2021, for an estimated $22 billion in two-way trade and investment. Also, the U.S. private sector sealed investment deals exceeding $8.6 billion. Over the years, African leaders have been engaging with their diaspora, especially those excelling in sports, academia, business, science, technology, engineering and other significant fields that the continent needs to optimize its diverse potentials and to meet development priorities.\n\n#Agoa #Afcfta #Trade #EconomicCooperation #UnitedStates #Africa\n\nhttps://www.eurasiareview.com/03072024-agoa-and-afcfta-unlocking-business-potentials-between-united-states-and-africa-oped/",
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