ECIC @ AGOA Forum
ECIC participated in the AGOA Forum that took place at Nasrec, Johannesburg from the 2 – 4 November 2023. United States Trade Representative Katherine Tai and South African Minister of Trade, Industry and Competition Ebrahim Patel announced in September that the Government of South Africa will host the 20th US-sub-Saharan Africa Trade and Economic Cooperation Forum (AGOA Forum) in Johannesburg this year.
The African Growth and Opportunity Act (AGOA) is a United States Trade Act, enacted on 18 May 2000 as Public Law 106 of the 200th Congress. The AGOA legislation has been renewed on different occasions, most recently in 2015, when its period of validity was extended to September 2025. The legislation significantly enhances market access to the US for qualifying sub-Saharan African (SSA) countries.
The Forum brought 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 labour.
Over the course of the event, participants engaged 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 also featured the ‘Made in Africa Exhibition’ which showcased regional value chains on the continent.
ECIC Acting CEO, Ntshengedzeni Gilbert Maphula is participating on a panel under the topic ‘Empowering Africa-U.S. Trade and Investment: A Focus on Financing, Insurance and Reinsurance Partnerships’ on Saturday, 4 November 2023. The session explored the funding partnerships for businesses including SMEs on the continent. The discussion reviewed potential foreign direct investment opportunities in the industrial sector, infrastructure, energy and digital economy as well as facilitated panellists from ECIC, Afreximbank, US EXIM Bank and ATI on how the strategic partnerships contribute to the success of global trade and in particular the AfCFTA.
