Browsing: African Growth and Opportunity Act (AGOA)

biden 1200

CCA president and chief executive officer Florizelle Liser said the forum allowed over 2,200 participants to network.

“CCA looks forward to partnering with the US Chamber to jointly convene the private sector as part of the Summit’s Africa Business Forum, which will help drive progress towards a trade and investment relationship that unlocks opportunity and growth for both the U.S. and Africa,” Liser said.

The US-Africa Leaders Summit will build American and African shared values and hopes to foster new economic engagement. It will also reinforce the two regions’ commitment to democracy and human rights. Among the issues to be discussed are mitigating the impact of COVID-19 and future pandemics and working collaboratively to strengthen regional and global health.

Climate change is another matter of concern that needs a response by respective governments. Nevertheless, Biden said he was hopeful the summit would be a success.…

US President Joe Biden meets with his Kenyan counterpart Uhuru Kenyatta in the Oval Office at the White House in Washington DC, October 14, 2021. www.theexchange.africa

Trade between Kenya and the US is governed by the World Trade Organization (WTO), given that both countries are members of the Organization.

The African Growth and Opportunity Act (AGOA), is perhaps the highlight of the strong trade relations between Kenya and the US; enacted in May 2000 and has since been renewed to 2025. Under the Act, Kenya qualifies for duty-free access to the U.S market, exporting products such as textiles, apparel, and handicrafts among many others.  

The US views Kenya as a key strategic trade partner in the region, which is the second-largest beneficiary of the AGOA tariff benefits. In 2019, trade between the United States and Kenya was estimated at US$1.1 billion, recording a 4.9% increase from 2018. Top US imports from Kenya were apparel, estimated at US$454 million, edible fruit and nuts at US$55 million, titanium ores and concentrates at US$52million and coffee at US$34 million. …

Us-China Trade wars are fostering development in Africa. www.theexchange.africa

Africa is home to at least 47 foreign military outposts, with the US controlling the largest number. Djibouti is the only country in the world to host both American and Chinese outposts.

A recent survey by Afrobarometer across 34 countries indicated that 63 per cent of the population see China’s influence in Africa as positive, whilst 60 per cent made similar comments about the US. Are there benefits to be extracted from this searing rivalry?

Africa’s Agenda 2063 on the ‘Africa we want’ set by the African Union, advocates under its first aspiration, a ‘Prosperous Africa based on inclusive growth and sustainable development’ and ‘A Strong, United, Resilient and Influential Global Player and Partner’ under aspiration 7.…

Ngozi Okonjo Iweala e1595607363998

The US-Nigeria relations is expected to grow even stronger after the United States expressed its strong support for the Nigerian candidate in the contest to lead the World Trade Organization.

Former Nigerian finance minister Ngozi Okonjo-Iweala has attracted broad support from member countries in the race for Director-General, with US being the latest to throw her weight behind her candidature.

The endorsement paves the way for unanimous agreement on the post, which has remained vacant for months.

Former President Donald Trump’s administration had backed South Korean trade minister Yoo Myung-hee, preventing a consensus.

However, Yoo on Friday announced her withdrawal from the race.

The US Trade Representative then proceeded to issue a statement saying the administration respects her decision to pull out.

If it is approved, the appointment of Okonjo-Iweala will fill the top post of the global trade watch dog for the first time since last September, after the …

Fear for poor prices as US wheat is ready to access Kenya

Kenya is pursuing a new trade deal with the United States, a deal that was announced earlier in February during President Uhuru Kenyatta’s visit to Washington DC. To set the stage for the new deal, US department of agriculture USDA has announced that Kenya will start receiving wheat from Idaho, Oregon and Washington states after the states addressed plan health concerns.

Kenya has lifted the trade barrier to allow U.S. wheat growers in the Pacific Northwest (PNW) access to Kenya’s wheat market for the first time in over a decade after the U.S.- Kenya Trade and Investment Working Group adopted a phytosanitary protocol.

Effective immediately, U.S. wheat may now be shipped to Kenya, regardless of the state of origin or port of export, Agriculture Secretary Sonny Perdue announced.  For the last 12 years, USDA’s Animal & Plant Health Inspection Service (APHIS) has worked closely with Kenyan officials to address plant …

Kenya And The U.S. Workout A Free Trade Agreement

Corporate Council on Africa (CCA) in partnership with Kenya Private Sector Alliance (KEPSA) hosted a discussion with Kenyan and U.S. business leaders and government officials on the benefits that will arise from a Kenya-U.S. Free Trade Agreement

The round table discussion explored how the private sector can support this bilateral effort and take full advantage of investment and trade opportunities that will come from a Kenya-U.S. Free Trade Agreement.

This comes as a follow up to the recent visit of H.E. President Kenyatta to the United States, where both states announced the launch of talks aimed at establishing a free trade agreement (FTA) between the two countries.

If the plans succeed, it will be the first the United States FTA with a sub-Saharan African nation.

To enhance its trade and investment relationship with other African countries, the U.S might use the same model.
President and CEO of the Corporate Council …

Africa Fashionomics: The small problem with 'Mitumba'

Sub-Saharan African clothing and footwear market is worth $31 billion US dollars and growing. In a series of articles about the industry in Sub Sahara Africa, we will explore the policies, trade and the budding creative fashion industry in the region. This is the second part of the series where we focus on the raw material for the textile industry.

Read the previous series:  Africa Fashionomics: Making sense of the $31 Billion industry

Also:  Africa Fashionomics: Not enough materials to support a budding textile industry

And also: Africa Fashionomics: Business of Fashion in Africa led by Ethiopia

East African Community had one ambitious goal; to get rid of second-hand clothes in the region and shield their nascent textile industry from adverse effects of these clothes from U.S and Europe. The goal was already set and the countries would effect a hike on the duty charged on second-hand clothes. East African …

Africa Fashionomics: Business of Fashion in Africa led by Ethiopia

Hawassa Industrial park sits 140 miles south of Addis Ababa. The park was built by China Civil Engineering Corporation in 2016 and has so far attracted several international companies. The park is part of a long-term vision to grow Ethiopia into a production hub. It houses factories including textile and agro-processing and has 25,000 employees producing garments.

In the last 5 to 6 years, the textile, and apparel industry have grown at an average of 51% and more than 65 international textile investment projects have been licensed for foreign investors, during this period.

According to the World Investment Report, Ethiopia is one of the top-performing African countries in FDI flow, especially in the textile sector. The government of Ethiopia believes that textile would help the nation to join middle-income status in 2025. As the way forward, the Ethiopian government has been building industrial parks at different cities of the country …