Tanzania requests for AGOA extension
PRESIDENT Samia Suluhu Hassan has requested the visiting US Vice President Kamala Harris to extend African Growth and Opportunity Act (AGOA).
Dr Samia who hosted Ms Harris for a joint Press Conference at State House on Thursday, urged the US Vice President to renew the agreement, as it was drawing to a close.
The President informed that Tanzania was among the major beneficiaries of the legislation significantly enhances market access to the US for qualifying Sub-Saharan African (SSA) countries.
“AGOA has proven to be crucial for trade to blossom over the years, so we are requesting for the extension of the agreement,” explained Dr Samia.
The President urged the US government to extend AGOA for at least another 10 years to guarantee businessmen who have invested in Tanzania sustainability of their ventures.
She added: “We would be more than grateful if it goes to 2030.”
AGOA is a United States Trade Act, enacted on May 18, 2000 as Public Law 106 of the 200th Congress.
It is a trade deal that allows beneficiary countries in sub-Saharan Africa to export their products to the US duty-free. It was enacted in the US in 2000 to run to 2015 and renewed to 2025.
The Act originally covered the 8-year period from October 2000 to September 2008, but legislative amendments signed into law by US President George Bush in July 2004 served to extend AGOA to 2015.
Enacted in May 2000, AGOA is the cornerstone of U.S. economic engagement with the countries of sub-Saharan Africa.
The agreement provides duty-free access to the U.S market for eligible Sub Sahara African nations. In June 2015, the US government authorised AGOA for an additional 10 years.
It has also succeeded in helping eligible nations grow, diversify their exports to the United States and create employment and inclusive economic growth. Under AGOA, eligible countries can export products, including value-added manufactured items such as textiles, to the United States duty-free.
