The United States government hosted trade ministers from sub-Saharan Africa for the annual African Growth and Opportunity Act (AGOA) Forum from July 24 to 26. Historically since its (AGOA) launch in 2000, this important corporate event takes place alternately in Washington or in an African city each year. Last year, it was held in South Africa. The Forum took place in Washington at the backdrop of geopolitical changes, and during an election period in the United States.
Ahead of the Forum, on July 23 there was an official statement from President Joe Biden on the African Growth and Opportunity Act (AGOA) Forum in Washington that called on Congress to quickly reauthorize and modernize this landmark Act—which is set to expire in 2025. That America is all in on Africa. And together, let’s ensure future generations of Americans and Africans can meet the challenges and seize the opportunities of the decades ahead.
“For more than two decades, the bipartisan African Growth and Opportunity Act has formed the bedrock of America’s economic partnership with African nations. In sub-Saharan Africa, it has increased the competitiveness of African products, led to the creation of tens of thousands of quality jobs, and helped advance human rights. Here at home, AGOA has created investment opportunities and new markets for American businesses. And on both sides of the Atlantic, AGOA has promoted sustainable economic growth and resilient supply chains,” President Joe Biden said in the statement.
United States Trade Representative, Ambassador Katherine Tai, at the opening ceremony of the 21st Africa Growth and Opportunity Act Forum, in the presence of African finance ministers, heads of delegation from AGOA partner countries, Secretaries-General and Commissioners of the Regional Economic Communities and the African Union, acknowledged the extraordinary collaborative job done by the African Union, the Regional Economic Communities and together with Africa’s Finance Ministers. For the last three years, the Biden-Harris Administration has focused on measures to deepen trade and strengthen economic cooperation, she said in a quick assessment in terms of performance and results.
“When President Biden asked me to serve as his Trade Representative, he gave me a directive—to use trade for the common good. This means putting workers at the center of our trade policy, because they are the backbone and engine of our economy. This also means expanding the table and lifting up more voices, especially those of women, youth, the African Diaspora, and communities that have been historically overlooked. This is how we are democratizing economic opportunity and transforming the role of trade in the social contract between our government and our people,” she explained in her speech at the 21st AGOA ministerial meeting held on July 25 in Washington.
These core beliefs are the centerpiece of the trade relationship with Africa—especially AGOA. Washington officials consider AGOA’s success to date as an unshakeable potential for a new era, as a driving force to strengthen trade with Africa. And next, Africa possesses tremendous opportunity and potential. The officials further acknowledged that the world is very different from when AGOA was first enacted 24 years ago. That is why the Biden-Harris Administration not only supports the reauthorization of AGOA, but also the strengthening and improving of it to fit the rapidly changing times.
As one of the strategic steps, AGOA is closely working with the African Continental Free Trade Area (AfCFTA) Secretariat. Besides that, AGOA is also working on bilateral basis with many African countries, for instance with Kenya on the Strategic Trade and Investment Partnership. It has a trade collaboration with South Africa. The forward-looking model for........