The United States has reached a preliminary agreement with African nations to extend their preferential trade access to the US by another decade through the African Growth and Opportunity Act (Agoa).
However, it’s subject to approval by the US Congress, said South Africa’s Minister of Trade, Industry and Competition, Ebrahim Patel.
“We reached an agreement on the need for another 10 years,” Patel said.
He made the statement to a business forum during the 112th anniversary of the ANC in Mbombela, Mpumalanga, at the weekend.
Agoa has 32 member African nations taking advantage of the preferential trade agreement and is due for an extension by 2025.
