Department of Trade, Industry and Competition Minister, Parks Tau. (Supplied/Department of Trade, Industry and Competition)
A high-level South African trade delegation led by the government recently concluded a successful visit to the US. The Department of Trade, Industry and Competition reported that both the Biden Administration and members of Congress expressed support for the renewal of the Africa Growth and Opportunity Act (AGOA), as well as strengthening bilateral trade relations between the two countries.
The delegation, headed by Minister Parks Tau, attended the 21st AGOA Forum where they secured backing for AGOA’s renewal and advocated for enhanced trade and investment ties between the US and South Africa. With AGOA set to expire in 14 months, African trade ministers urged for a swift renewal with additional enhancements for a minimum of 16 years.
Discussions also focused on promoting closer investment relations and transitioning Africa’s trade towards value-added exports. The US is a key trading partner for South Africa, and AGOA has been instrumental in boosting job creation through agriculture and value-added exports.
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