Trade Barriers Shackle AGOA, but African Growth Presents US Opportunity, Say Lawmakers
Trade and investment barriers in sub-Saharan Africa are continuing to inhibit use of African Growth and Opportunity Act (AGOA) preferences, said House Ways and Means and Foreign Affairs committee and the Senate Finance and Foreign Relations committee officials in a…
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joint Aug. 4 statement meant to welcome African officials to Washington, D.C. for the high-profile U.S.-African Leaders summit. While the statement does not identify specific barriers Africans face in exporting goods, customs inefficiency and corruption are often blamed for impeding use of AGOA. Nonetheless, the congressional leaders praised African growth and bilateral U.S.-African trade, despite additional barriers that prevent U.S. firms from penetrating African markets. “We note that while per capita income in sub-Saharan Africa has grown more than threefold since 2001, nearly half the population in sub-Saharan Africa lives in poverty today,” said the statement. “In addition, diversifying sub-Saharan exports remains a goal of U.S. policy.”