The Minister of Trade, Industry and Competition, Parks Tau last week concluded a working visit to the United States (U.S.) where he was accompanied by a high-level delegation comprising of government officials, private sector and organised labour.
The purpose of the visit, according to the DTIC, was to participate in the 21st Africa Growth and Opportunity Act (AGOA) Forum held on 22-26 July 2024.
With AGOA expiring in 14 months, the African Ministers of Trade reportedly urged the Biden Administration and the Members of US Congress, “for expeditious renewal of AGOA with non-controversial enhancements and amendments for a minimum of 16 years to provide the required predictability and certainty to buyers, exporters, and investors.”
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There was agreement among all parties to promote stronger and closer investment relations to complement AGOA and change the structure of Africa’s trade towards value-added exports.
The Forum also highlighted the critical role that South Africa plays in the development of regional value chains on the African continent in a number of sectors.
Furthermore, the South African high-level delegation held extensive engagements with members of the US Congress and House of Representative, US Administration, US private sector and think tanks.
“We welcome the warm reception, as well as productive and constructive discussions we had with Members of Congress across the aisle and with the US Administration. There was a lot of interest in the GNU and its priorities, including efforts to deepen and enhance bilateral relations with the US,” said Tau.
The AGOA Forum is held on an alternate basis between Africa and the US. The 2025 AGOA Forum will be held in the Democratic Republic of Congo.
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