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AGOA Forum 2015 to discuss trade and economic issues

African Growth and Opportunity (AGOA) Forum 2015 to be held in Gabon will focus on trade and economic issues. AGOA is a non-reciprocal and unilateral preference program that provides duty-free access into the United States for qualifying exports from eligible African countries in addition to the tariff preference.

The program is similar to the Generalised System of Preference (GSP), a US trade preference program that applies to over 120 developing countries, including sub-Saharan countries. AGOA, however, builds on the GSP by providing preferential access to the US market for more products, such as apparels, and sets out additional eligibility criteria. The GSP represents a set of formal exceptions from the WTO's Most Favoured Nation (MFN) principle which allows developed countries to offer developing countries preferential treatment on specific goods. AGOA's authorization expires on September 30, 2015, hence most African governments and some US Congress members, including trade associations, particularly the US Chamber of Commerce, have highlighted the success of the program and want an expedited re-authorization of the same.

AGOA Extension and Enhancement Act of 2015 has already been approved by the US Senate, awaiting approval by the House of Representatives and the US President. AGOA and GSP, when renewed, would help develop key industries and foster improvements in governance and policy regarding labour and human rights. The initial draft released on April 16, appears to settle on a 10-year re-authorization and a 10-year extension of the third-country fabric provision, which is essential to nurture the development of the textile and apparel industry on the continent.

Trade.gov/agoa

 
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