Pretoria – Exports from Sub-Saharan Africa to the United States have been on the rise due to a trade partnership between the two.
Following a recent visit to the United States, Trade and Industry Minister Dr Rob Davies said the investment by the United States could support infrastructure investment in Africa, which can contribute to integration in the region.
Davies was in the United States to exchange views on the future of the Africa Growth and Opportunity Act (AGOA) beyond 2015.
AGOA was signed into law by then US President Bill Clinton on May 18, 2000, for a period of eight years and President George Bush later extended the programme to September 2015.
“AGOA is the only legal framework between sub-Saharan Africa and the Unites States, and it has generated enormous goodwill between African countries and the Unites States of America.
“For South Africa, it has underpinned exports of diversified and value added products to the US markets. Further, the US investment through Power Africa could help to support infrastructure development in Africa,” he said.
According to trade statistics, the United States’ total trade with sub-Saharan Africa – exports and imports – have grown by more than 250% from $28.2-billion in 2001.
AGOA exports from Sub-Saharan Africa increased from US$8.15 billion in 2001 to US$34.9 billion in 2012, representing an increase of 328% in exports. – SAnews.gov.za
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