News
USA Looking For AGOA Legislation Renewal
Furthermore Pritzker indicated, “One of the things that is so great about leading American businesses… is …. they are so committed to transparency, to rule of law, to being part of the community and so they want to come, they want to do good business and they want to be part of your communities.”
The commerce secretary said that one of the most important things for Africa was that government, civil society, business leaders should come together and find a locally grown solution to some of the challenges that Africa is facing in terms of governance, whether its business governance or over sight, or rule of law, or commitment to enforcing.
She then stated, “People need to come together, the leaders across both business, governance and civil society and say, we need to adopt the kind of standards and implementation that is expected that will then encourage further investment and innovation in community and in the economy here.”
The secretary said that from the trade and investment pillar, the US is focused on getting AGOA seamlessly renewed because that will allow so many goods and services from Africa to go tariff free into the United States. She said the USA was also working on developing laws so that it’s easier to have standardized documents or standardized agreements.
She concluded, “For example, in the power sector, which is the group I am leading here on this trade mission, it’s easier for business to get done in a more expeditious fashion. So, there are a number of things that we are doing, the state department also provides expertise and facilitation in certain types of trade, so there’s a lot that is happening that is supporting both our economic relations as well as our political relations.”
Source: CNBC Africa
