For Immediate Release
Office of the Press Secretary
May 19, 2005
African Growth and Opportunity Act (AGOA), 2005
2005 Comprehensive Report on U.S. Trade and Investment Policy Toward Sub-Saharan Africa and Implementation of the African Growth and Opportunity Act
Today, the President submitted to Congress the 2005 Comprehensive
Report on U.S. Trade and Investment Policy for Sub-Saharan Africa and
Implementation of the African Growth and Opportunity Act. The African
Growth and Opportunity Act (AGOA), Title I of the Trade and Development
Act of 2000, states that the President shall submit such reports
annually through 2008. The report is on the progress of AGOA
implementation and general trade and investment developments between
the United States and Africa.
Highlights from the 2005 report:
- AGOA has been a measurable success, increasing our two-way
trade with sub-Saharan Africa and diversifying the range of products
being traded. In 2004, U.S. exports to sub-Saharan Africa increased 25
percent from 2003, to $8.6 billion. AGOA imports were $26.6 billion in
2004, an increase of 88 percent over 2003. Non-oil AGOA imports
totaled $3.5 billion, an increase of 22 percent from 2003.
- In July 2004, President Bush signed into law the AGOA
Acceleration Act of 2004. This legislation extends AGOA's
authorization until 2015, including its special third-country fabric
provision until 2007, mandates increased AGOA-related technical
assistance, and amends some technical provisions of the Act.
- The United States devoted $181 million to trade capacity-
building activities in sub-Saharan Africa in FY04, up 36 percent
- Thirty-seven of the 48 sub-Saharan African countries are
eligible for AGOA. In December 2004, Burkina Faso was added to the
list of eligible countries, and C te d'Ivoire was removed from the
list. Three countries -- Benin, Nigeria, and Sierra Leone -- became
eligible for AGOA's apparel benefits in 2004. As of April 2005, 24
sub-Saharan African countries are eligible to receive AGOA's apparel
- The fourth U.S.-Sub-Saharan Africa Trade and Economic
Cooperation Forum will be held in Dakar, Senegal, in July 2005.
Senior Administration officials from the United States are expected
to join government ministers from the 37 AGOA-eligible countries at
this event. Hundreds of U.S. and African businesses and organizations
will participate in the private sector and civil society dialogues to
be held at the AGOA Forum.
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