Africa Us Trade Agreements

The free trade agreement is also an important precursor to post-AGOA relations for the United States. AGOA was passed by the U.S. Congress during the Clinton administration in May 2000 and was extended until 2025. The agreement should never be permanent, but a springboard for a more mature trade relationship between the United States and the continent. However, the trade and investment landscape in Africa has evolved since AGOA came into effect and was last renewed in 2015. For example, China`s growing economic influence in Africa and the conclusion of Mutual Economic Partnership Agreements (EPAs) between the EU and regional economic communities in Africa have penalized US companies in Africa. These events likely pressured the U.S. Congress to protect U.S. companies interested in Africa. Given that the renewal of AGOA is left to the discretion of Congress and the extension of current legislation is not guaranteed, it is likely that the US will demand similar concessions granted by Kenya to the EU in the EPAs.

She argues that a free trade agreement could help “diversify Africa`s exports, which, in turn, reduces the volatility of African economies and leads to more sustainable economic growth.” In other words, the deal could reduce Africa`s dependence on raw materials such as oil and minerals, whose prices often fluctuate on the international market. H.R. 4221 (introduced on 20 March 2012) and its accompanying law in the Senate, p. 2215 (introduced on the 21st The goal is to increase U.S. exports to Africa, in part through strategies to develop U.S.-African relations at the government level, promote U.S.-Africa relations in the private sector, and achieve more U.S. goals. Export financing for trade between the United States and the SSA. Hearings on this legislation took place on 17 April 2012 at the Subcommittee on Africa, Global Health and Human Rights of the House of Representatives and on 25 July 2012 at the Subcommittee on External Relations of the Committee on African Affairs of the Senate. On September 19, 2012, the Senate Committee on Foreign Relations voted to draft an amended version of p.

2215. The version of the law in the House of Representatives is still in committee. Meltzer, Joshua. “Deepen U.S.-Africa trade and investment relations.” Brookings Institution. (Called April 15, 2017). “Kenya`s apparently unilateral decision to marginalize the EAC is largely drawn from its past experience in negotiating joint agreements.” AGOA Section 117 supported the creation of this position to serve as the “primary point of contact within the executive for those working in U.S.-Sub-Saharan Africa trade” and as chief advisor to the U.S. Trade Representative (USTR) on trade and investment issues in Africa. This position had already been created by President Clinton in 1998. One of AUSTRA`s main roles is to determine each year which countries are generally entitled to AGOA benefits, as well as their particular textile and clothing benefits.

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