What Other Two Countries On The Continent Are In A Free Trade Agreement With The U.s

-October 15, 2021-

What Other Two Countries On The Continent Are In A Free Trade Agreement With The U.s

Mike Burroughs

Whatever its historical significance, much remains to be done before countries can benefit from a free trade area. Countries engaged in the agreement are expected to present their concessions for trade in goods and services by next year. Concession schedules describe the goods and services that countries will no longer tax. At this stage, the political commitment of the two leaders in the negotiations is of paramount importance. President Uhuru Kenyatta is one of the few African leaders to have built a positive relationship with President Trump and is the only African leader to have made two visits to the White House. Following its second meeting in February, the U.S. Chamber of Commerce established a U.S.-Kenya Trade Working Group to build mutual trust and seek common ground between the parties on key business priorities. Roberto Echandi is a Senior Private Sector Specialist at ETIRI. It focuses on research and policy advice on cross-border trade in services issues, the negotiation, implementation and maximization of the potential benefits of deep integration trade agreements, as well as the process of negotiating and implementing the AfCFTA.

The Office oversees the implementation of the African Growth and Opportunity Act (AGOA), a trade policy preference program adopted in 2000 that has been central to the United States` and Africa`s commitment to trade and investment. By offering duty-free entry to the United States for almost all African products, AGOA has helped expand and diversify African exports to the United States while fostering a better business environment in many African countries through the application of eligibility requirements. In 2015, the U.S. Congress extended AGOA until 2025. The Bureau for Africa is working closely with other U.S. agencies to support capacity building to increase the use of the AGOA program. More information about the AGOA program is available here. The African Continental Free Trade Area (AfCFTA) agreement will create the largest free trade area in the world in terms of the number of participating countries.

The pact connects 1.3 billion people in 55 countries with a combined gross domestic product (GDP) worth $3.4 trillion. It has the potential to free 30 million people from extreme poverty, but unlocking its full potential will depend on the implementation of important policy reforms and trade facilitation measures. .

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