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Africa: Risch, Coons Introduce Legislation to Renew Trade Partnership Between U.S. and Sub-Saharan African Countries

ByTGN Staff

Apr 14, 2024 #Africa current events, #Africa news, #African agriculture, #African business, #African countries, #African culture, #African development, #African economy, #African education, #African energy, #African entertainment, #African environment, #African health, #African leaders, #African politics, #African society, #African sports, #African technology, #African tourism, #Breaking news Africa

Washington, DC — U.S. Senators Jim Risch (R-Idaho), ranking member of the Senate Foreign Relations Committee, and Chris Coons (D-Del.), introduced the African Growth and Opportunity Act (AGOA) Renewal and Improvement Act of 2024today to renew and strengthen a key trade program with sub-Saharan African countries. AGOA is a trade preference program that facilitates deeper investment and stronger commercial ties between the United States and sub-Saharan African countries. First enacted in 2000, AGOA is due to sunset next year.

“AGOA plays a significant role in U.S.-sub-Saharan Africa trade and investment, as well as in U.S. foreign policy. This bipartisan bill aims to refine AGOA’s eligibility criteria, increase transparency, and hold U.S. agencies accountable for their advice to the president,” said Risch. “This legislation will bolster Congress’ involvement in the eligibility process and oversight, demonstrating a strong commitment to AGOA. I encourage my colleagues to swiftly reauthorize AGOA and the next administration to pursue a broader, two-way strategy with Africa that goes beyond trade preferences and meets the needs of the 21st century.”

“Over the past 24 years, AGOA has created jobs and economic growth in one of the fastest-growing regions of the world and created investment opportunities for American businesses,” said Coons. “The AGOA Renewal and Improvement Act is necessary to support continued economic development on the continent while further strengthening ties between the United States and partners in sub-Saharan Africa.”