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22 September 2013 Davies engages the US on the future of ALGOA The Minister of Trade and Industry, Dr Rob Davies, has arrived in the country today, Sunday, 22 September 2013, after undertaking a successful visit to the United States (US). He visited the US to exchange views with different stakeholders on the future of the Africa Growth and Opportunity Act (AGOA) beyond 2015. AGOA was signed into law by President Bill Clinton on May 18, 2000, for a period of eight years and President George Bush later extended the programme to September 2015. During his visit, Minister Davies met with the US Trade Representative Michael Froman, Senators, members of congress, think tanks as well as business people represented through the US Chamber of Commerce and the Corporate Council on Africa. In his engagement with these role players, Davies central message was that AGOA is significant to the regional integration efforts in Africa. He stated that Africa is pursuing a developmental integration with industrialisation and infrastructure development as its pillars, and as such AGOA would support the creation of regional value chain and value addition. Both Minister Davies and Ambassador Froman agreed that the African Growth and Opportunity Act (AGOA) has benefitted the Sub-Saharan Africa countries and the US. "AGOA is the only legal framework between the Sub-Saharan Africa and the Unites States and it has generated enormous goodwill between African countries and the Unites States of America. For South Africa, it has underpinned exports of diversified and value added products to the US markets. Further, The US investment such through Power Africa could help to support infrastructure development in Africa", said Davies. Trade statistics indicate that AGOA has truly transformed the way the US and Africa interact on trade and economic issues. The US total trade with sub-Saharan Africa (exports plus imports) have grown more than 250 percent from $28.2 billion in 2001. AGOA exports from Sub-Saharan Africa increased from US$8.15 billion in 2001 to US$34.9 in 2012, representing an increase of 328 percent in exports. Issued by: The Department of Trade and Industry Enquiries: Sidwell Medupe; Department Spokesperson Tel: (012) 394 1650 Mobile: 079 492 1774 E-mail: [email protected] Follow us on Twitter: @the_dti From: http://www.gov.za/speeches/view.php?sid=39930 -- -- You are subscribed. This footer can help you. Please POST your comments to [email protected] or reply to this message. You can visit the group WEB SITE at http://groups.google.com/group/yclsa-eom-forum for different delivery options, pages, files and membership. To UNSUBSCRIBE, please email [email protected] . You don't have to put anything in the "Subject:" field. You don't have to put anything in the message part. All you have to do is to send an e-mail to this address (repeat): [email protected] . --- You received this message because you are subscribed to the Google Groups "YCLSA Discussion Forum" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. For more options, visit https://groups.google.com/groups/opt_out.
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