{"id":19447,"date":"2023-11-02T13:39:30","date_gmt":"2023-11-02T13:39:30","guid":{"rendered":"https:\/\/dev.selinawamucii.com\/news\/?p=19447"},"modified":"2023-11-02T13:39:32","modified_gmt":"2023-11-02T13:39:32","slug":"south-africa-hosts-agoa-amid-three-new-developments","status":"publish","type":"post","link":"https:\/\/dev.selinawamucii.com\/news\/2023\/11\/02\/south-africa-hosts-agoa-amid-three-new-developments\/","title":{"rendered":"South Africa hosts AGOA amid \u00a0three new developments\u00a0"},"content":{"rendered":"\n

The\u00a0renewal\u00a0<\/u><\/a>of a major free trade pact is the defining topic at the ongoing\u00a020th<\/sup>\u00a0African Growth and Opportunity Act (AGOA) forum in South Africa<\/a>.\u00a0<\/p>\n\n\n\n

Signed during Bill Clinton\u2019s presidency and terminating in 2025, the free trade pact gives some AGOA members tariff-free American market access. Hence, key beneficiaries will be seeking to renew the deal for 10 more years during the ongoing session.<\/p>\n\n\n\n

Proponents for the deal will bank on the new African Continental Free Trade Area (AfCFTA).  Since it fosters seamless regional trade, AfCFTA is  likely to lure American investors to root for Afro-American free trade.<\/p>\n\n\n\n

Another new development in the Johannesburg forum is the reinstatement<\/u><\/a> of trade benefits for Mauritania. This follows Mauritania\u2019s current willingness to provide better working conditions for its workers.<\/p>\n\n\n\n

In 2019, the Sahel region country lost AGOA benefits for not improving the rights of its workforce. <\/p>\n\n\n\n

A third major development is the end of membership for Uganda<\/u><\/a>, the Central African Republic<\/u><\/a>, Niger and Gabon. <\/p>\n\n\n\n

U.S. President, Joe Biden cites low human rights profiles<\/u><\/a> in the four nations as the reason for the terminations. AGOA posted the cessation notice on its website on October 31, 2023.<\/p>\n\n\n\n

South Africa: an AGOA agricultural profile<\/strong><\/h3>\n\n\n\n

The forum is taking place just 7 months after President Cyril Ramaphosa visited Washington to negotiate continued trade benefits<\/a>. <\/p>\n\n\n\n

South Africa\u2019s agriculture is multi-pronged and embraces all sectors. The country\u2019s key fruit exports include citrus and table grapes.<\/p>\n\n\n\n

The main specialty crops include sugar cane while staples range from potatoes to wheat and soybean produce.<\/p>\n\n\n\n

In terms of animal products, South Africa exports milk, beef and poultry. <\/p>\n\n\n\n

On a comparative basis, the AGOA deal with the U.S. favors South Africa. Between the years 2000 and 2022, the African state has annually enjoyed more exports to the U.S. than vice versa. <\/p>\n\n\n\n

South Africa exported goods worth $2.403 billion<\/u><\/a> to the U.S. in 2000. By 2021, the value had reached a record-breaking $15.74 billion, which lowered to $14.57 billion in 2022. <\/p>\n\n\n\n

The U.S., on the other hand, witnessed its exports to South Africa climb from $2.83 billion in 2000 to $7.078 billion in 2012. The 2022 exports to its African ally clocked $6.52 billion. <\/p>\n\n\n\n

Despite this export-import disparity, the two countries have always enjoyed a fair trade balance.\u00a0<\/p>\n\n\n\n

South Africa will specially capitalise on this amicable relationship in this year’s AGOA forum, which runs between November 2 and 4.<\/p>\n","protected":false},"excerpt":{"rendered":"

The\u00a0renewal\u00a0of a major free trade pact is the defining topic at the ongoing\u00a020th\u00a0African Growth and Opportunity Act (AGOA) forum in South Africa.\u00a0 Signed during Bill Clinton\u2019s presidency and terminating in 2025, the free trade pact gives some AGOA members tariff-free American market access. Hence, key beneficiaries will be seeking to renew the deal for 10…<\/p>\n","protected":false},"author":3,"featured_media":19448,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[],"yoast_head":"\nSouth Africa hosts AGOA amid \u00a0three new developments\u00a0 - Selina Wamucii | Food & Agriculture News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dev.selinawamucii.com\/news\/2023\/11\/02\/south-africa-hosts-agoa-amid-three-new-developments\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Africa hosts AGOA amid \u00a0three new developments\u00a0 - Selina Wamucii | Food & Agriculture News\" \/>\n<meta property=\"og:description\" content=\"The\u00a0renewal\u00a0of a major free trade pact is the defining topic at the ongoing\u00a020th\u00a0African Growth and Opportunity Act (AGOA) forum in South Africa.\u00a0 Signed during Bill Clinton\u2019s presidency and terminating in 2025, the free trade pact gives some AGOA members tariff-free American market access. 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