The
United States will support government efforts to take advantage of the African
Growth and Opportunity Act (AGOA), a trade pact that allows easy access to the
US market, the US ambassador in Maputo announced today.
“Trade
incentives to access the American market will lead to increased investments in
Africa, creating more jobs and economic opportunities for all.,” Ambassador
Dean Pittman said at the AGOA Utilisation Strategy launch event in Maputo.Although
the trade pact has existed for 18 years, “only $1 million of the $100 million
of Mozambican exports into the United States take advantage of AGOA’s duty free
access”, the US embassy said in a statement.The situation has led to the
development of a strategy for Mozambique that will prioritise the export of
textiles, clothing, precious metals and food and agricultural specialities,
such as cashews, pigeon peas, cassava, shelled almonds, kidney beans, macadamia
nut and sugar cane molasses.According to the US embassy, AGOA ” is the United
States’ cornerstone trade initiative with sub-Saharan Africa and a strong
symbol of U.S. partnership with the region.”
“The
ten-year extension of AGOA to 2025 offers the private sector an opportunity to
develop and implement a more long term trading relationship with the United
States,” the statement concludes.
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