Somali's Application to The African Growth and Opportunity Act (AGOA)
The African Growth and Opportunity Act (AGOA) is a United States trade act that was passed in 2000. The act provides eligible sub-Saharan African countries with duty-free access to the US market for over 1,800 products, in addition to the more than 5,000 products that are eligible for duty-free access under the Generalized System of Preferences program.
AGOA was designed to promote economic growth and development in sub-Saharan Africa by increasing trade between the United States and the region. The program has been successful in increasing trade between the United States and sub-Saharan Africa. In 2019, the United States exported over $29 billion worth of goods to sub-Saharan Africa under AGOA, and the region exported over $32 billion worth of goods to the United States.
The AGOA has also had a positive impact on economic development in sub-Saharan Africa. A study by the World Bank found that the AGOA has helped to create over 2 million jobs in the region. The act has also helped to improve the lives of millions of people in sub-Saharan Africa by providing them with access to affordable goods and services.
Somalia's Minister of Commerce, Jirbil Abdirashid Haji has submitted an application of behalf of the Federal Government of Somalia for Designation as an AGOA Beneficiary Country. During the application ceremony, the US ambassador to Somalia, Larry Andrá said, "The African Growth & Opportunity Act will provide Somalia with an opportunity to export its products to the United States with greatly reduced trade barriers."
“The African Growth & Opportunity Act will provide #Somalia with an opportunity to export its products to the United States with greatly reduced trade barriers.” - Amb. André with @mocisom Min. @HonJibrilAHaji at the #AGOA application ceremony yesterday. #prosperity 🇺🇸🇸🇴… pic.twitter.com/oAlXi5INP4— U.S. Embassy Mogadishu, Somalia (@US2SOMALIA) March 29, 2023
Somalia's Minister of Commerce, @HonJibrilAHaji, submitted #Somalia's application for Designation as an #AGOA Beneficiary Country. #US Ambassador Larry André said this will provide Somalia with an opportunity to export its products to the US with greatly reduced trade barriers. pic.twitter.com/fbf9SDBpPv— SONNA (@SONNALIVE) March 29, 2023
According to the program's website, AGOA has also been successful in promoting economic growth and development in sub-Saharan Africa. The program has helped to create jobs, increase investment, and improve access to markets for African businesses. AGOA has also helped to promote democracy and good governance in sub-Saharan Africa by encouraging countries to adopt market-based economic policies and to respect human rights.