Difficult to Tell AGOA Impact on Eligible Economies, Says GAO
Exports through African Growth and Opportunity Act duty preferences only account for a “small proportion” of total exports, less than 0.5 percent in many cases, from AGOA beneficiary countries, the Government Accountability Office said in a recent report to lawmakers…
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on Capitol Hill (here). But AGOA-eligible countries still fare far better than ineligible countries across a broad range of economic indicators, such as income growth and governance quality, said GAO. The report emphasizes the difficulty to tie economic progress in eligible countries directly to AGOA preferences. Senate Finance Chairman Orrin Hatch, R-Utah, was among the 10 lawmakers who requested the report. Many AGOA supporters are pushing for renewal before the Sept. 30 expiration. Some of those supporters are targeting Trade Promotion Authority as a vehicle (See 1501290035).