President Cyril Ramaphosa has confirmed that South Africa will indeed host the summit of the African Growth and Opportunities Act – or AGOA – in November.

Ramaphosa spoke in New York after the United Nations General Assembly. In a joint statement between the South African Minister of Trade, Industry and Competition, Ebrahim Patel, and his American counterpart, Katherine Tai, South Africa was confirmed as the host country.

Ramaphosa describes this as a positive development in the relationship of trust between South Africa and America.

The AGOA Forum takes place in Johannesburg from 2 to 4 November 2023.

The forum will bring together the governments of the United States and AGOA-eligible countries, as well as representatives from key regional economic organisations, the private sector, civil society, and labor.

Over the course of the event, participants will engage in discussions on how to strengthen trade and investment ties between the United States and sub-Saharan Africa and how to promote resilient, sustainable, and inclusive economic growth and development.

The forum will also feature the ‘Made in Africa Exhibition’ which will showcase regional value chains on the continent.

Minister Patel believes there is scope to deepen AGOA’s impact on African industrialisation.

“An extension of AGOA beyond 2025 will promote inward investment in Africa and provide benefits to both the United States and African countries. It will also support our efforts to increase growth through the African Continental Free Trade Area (AfCFTA) that will cover 54 countries and 1.4 billion people.”

Since its enactment in 2000, the African Growth and Opportunity Act (AGOA) has been at the core of United States economic policy and commercial engagement with Africa.

AGOA provides eligible sub-Saharan African countries with duty-free access to the US market for over 1800 products, in addition to the more than 5000 products that are eligible for duty-free access under the Generalized System of Preferences program.

Western Cape Premier Alan Winde had previously expressed concern that AGOA may be under threat, but with this announcement it appears US-SA ties have been mended following a threatening diplomatic row over the Lady R debacle.

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