Reaching and competing in the US market is a daunting prospect for even the most established manufacturer, and AGOA preferences are often inadequate to counteract the costs of underdeveloped regional productive networks or the complexities of navigating the logistics and customs systems on the way to the US market. [...] Trade with the United States Despite these concerns and the significant shift in the structure of tariffs between Africa and the United States brought about by AGOA, the volume and composition of trade between Africa and the United States hasn’t changed as dramatically. [...] This is a significant saving, but in the context of the scale of exports and the value of the sectors themselves, it is relatively small. [...] Investment and services While much of the focus under AGOA understandably falls on trade in goods, the US is world’s largest market for services trade, and much of the benefits of the relationship between the US and the AGOA bloc fall in their trade in services and investment sectors. [...] The negotiations began in mid-2020, with the expressed intention to negotiate a trade agreement that was “responding to Congress’ support, as expressed in the African Growth and Opportunity Act (AGOA), to negotiate reciprocal and mutually beneficial trade agreements that serve the interests of both the United States and the countries of sub-Saharan Africa”.1 The objectives noted that “(o)ur vision.
Authors
- Pages
- 55
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- South Africa
