Strengthening The African Growth and Opportunity Act: Delivering on Africa’s Promise through NEPAD and the African Diaspora to Reinvigorate the Commercial Relationship Between the United States and Sub-Saharan African Countries (August 2013)
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REPORT
New York City Bar Association Committee on African Affairs
Strengthening The African Growth and Opportunity Act: Delivering on Africa’s Promise through NEPAD and the African Diaspora to Reinvigorate the Commercial Relationship Between the United States and Sub-Saharan African Countries
August 2013
ABSTRACT
Initially signed into law on May 18, 2000, the African Growth and Opportunity Act (AGOA) was welcomed by many as a beacon of hope for Africa’s socio-economic development. AGOA has since been amended multiple times and is set to expire in September 2015 if not renewed. By the time this paper is published, government officials from Africa and the United States, together with global business leaders, will have concluded their meeting in Ethiopia for the annual AGOA conference (AGOA Forum 2013). Undoubtedly, what will have been discussed is how AGOA has achieved undeniable successes, such as increasing African exports and creating jobs both in Africa and the United States. However, AGOA has not yet fully achieved its primary goal of significantly improving the lives of millions of African families through sustained economic development and increased access to the United States market, nor has it fundamentally altered the course of trade relations between sub-Saharan African countries and the United States in the long term.
At the same time, for many, Africa is no longer considered as an investment destination for only the brave or reckless. The 23rd World Economic Forum on Africa, held in Cape Town, South Africa in May 2013, declared through its theme ―Delivering on Africa’s Promise‖ that now is the time to capitalize on Africa’s unprecedented economic growth. In line with such theme, this paper will discuss the origins of AGOA, its achievements, shortcomings and its potential to still serve as a foundation for meaningful trade relations between sub-Saharan African countries and the United States. This paper will also examine the New Economic Partnership on Africa’s Development (NEPAD) framework, and explore ways that NEPAD’s policies can create better synergies with AGOA to benefit African people. Finally, this paper seeks to articulate ways that AGOA can be strengthened to achieve its envisioned objectives, highlighting the role that the African diaspora community in the United States, and African governments, can play.
