Tens of thousands march through Cape Town in solidarity with Palestinians
Call for Western Cape government to stand with Palestine as it has with Ukraine
United States
Research shows how Green Tea is effective in fighting Covid-19 subvariants
The extensive health benefits of Green Tea have been enjoyed by cultures across the globe since the 8th Century, and it appears this herbal beverage is now tackling modern illnesses. Researchers have found that Green Tea may help in the fight against Covid-19 as the tea inactivates the virus. Scientists from the Kyoto Prefectural University …
Young Visionary Lesedi Mochadibane Empowers Students with Free, High-Quality Math Resources to Revolutionize Education in South Africa
The state of Maths in South Africa is facing significant challenges, with less than 30% of matric students opting for math, and only half of them passing their exams, as reported by Business Tech. In response to this pressing issue, Lesedi Mochadibane, a 23-year-old entrepreneur with nearly 5 years of experience in the edtech space, …
Patel unveils strategy charting the course for SA’s Global Business Services
Patel unveils strategy charting the course for SA's Global Business Services
Trade, Industry and Competition Minister Ebrahim Patel on Tuesday unveiled a forward-looking strategy charting the course for South Africa's Global Business Services (GBS) sector.
Patel made the announcement during his opening address at the annual BPESA [Business Process Enabling South Africa] GBS | BPO Conference, which took place in Cape Town.
Patel highlighted the sector's pivotal role in job creation and economic expansion, emphasising the vital partnerships between government, private sector and employees.
He noted the GBS sector's achievements, citing its contributions to job growth, geographic expansion and its impact on the national economy.
Government has invested more than R3 billion since 2016 in the sector, which currently employs more than 31 000 employees in firms receiving national government support, earning significant sums of foreign exchange to the country. The industry has a Sector Masterplan that drives its growth and development.
Patel outlined the next phase of the GBS sector, focusing on expanding operations across provinces and towns, with a strong emphasis on high-value services in services in Information Technology, finance, health, legal and retail.
The sector will need to address the challenges of artificial intelligence in consumer servicing markets. Underlining the importance of language and technical skills, he stressed the need to tap into South Africa's diverse talent pool and the country's robust customer service culture.
He noted a number of strengths in the local economy that international investors pointed to as reasons for choosing SA as a destination for their GBS-centres.
South Africa now services markets in the United Kingdom, United States of America, Canada, Australia, China, Mauritius, Belgium, the Netherlands, Germany and France.
The sector was youth-focused, with 90% of employees being young people, and six out of ten employees being women.
“The face of the industry is female and young people, which fits in well with our national priorities,” Patel said.
Addressing the crucial issue of ethical sourcing, Patel acknowledged consumers' growing awareness of social and environmental conditions.
He emphasised the industry's commitment to ethical practices and called for improved social impact and strengthened labour relations and decent working conditions, in line with the principles enshrined in the South African constitution.
"Ethical sourcing presents both a market challenge and a tremendous opportunity. As consumers demand transparency in production conditions, we must showcase our strengths while enhancing their impact in local operations," Patel said.
With a government allocation of R569 million to the GBS sector this financial year, these initiatives mark a significant stride toward ensuring the sector's resilience, competitiveness and positive impact on both the national economy and the workforce. – SAnews.gov.za
Edwin
Wed, 11/08/2023 - 14:19
211 views
“Governments are literally doubling down on fossil fuel production”
A major new report published today finds that governments plan to produce around 110% more fossil fuels in 2030 than would be consistent with limiting warming to 1.5°C, and 69% more than would be consistent with 2°C.
This comes despite 151 national governments having pledged to achieve net-zero emissions and the latest forecasts which suggest global coal, oil, and gas demand will peak this decade, even without new policies. When combined, government plans would lead to an increase in global coal production until 2030, and in global oil and gas production until at least 2050, creating an ever-widening fossil fuel production gap over time.
The report's main findings include:
- Given risks and uncertainties of carbon capture and storage and carbon dioxide removal, countries should aim for a near total phase-out of coal production and use by 2040, and a combined reduction in oil and gas production and use by three-quarters by 2050 from 2020 levels, at a minimum.
- While 17 of the 20 countries featured have pledged to achieve net-zero emissions — and many have launched initiatives to cut emissions from fossil fuel production activities — none have committed to reduce coal, oil, and gas production in line with limiting warming to 1.5°C.
- Governments with greater capacity to transition away from fossil fuels should aim for more ambitious reductions and help support the transition processes in countries with limited resources.
The 2023 Production Gap Report: “Phasing down or phasing up? Top fossil fuel producers plan even more extraction despite climate promises” is produced by Stockholm Environment Institute (SEI), Climate Analytics, E3G, International Institute for Sustainable Development (IISD) and the UN Environment Programme (UNEP). It assesses governments' planned and projected production of coal, oil, and gas against global levels consistent with the Paris Agreement's temperature goal.
“Governments are literally doubling down on fossil fuel production; that spells double trouble for people and planet,” said UN Secretary-General António Guterres. “We cannot address climate catastrophe without tackling its root cause: fossil fuel dependence. COP28 must send a clear signal that the fossil fuel age is out of gas — that its end is inevitable. We need credible commitments to ramp up renewables, phase out fossil fuels, and boost energy efficiency, while ensuring a just, equitable transition.”
July 2023 was the hottest month ever recorded, and most likely the hottest for the past 120,000 years, according to scientists. Across the globe, deadly heat waves, droughts, wildfires, storms, and floods are costing lives and livelihoods, making clear that human-induced climate change is here. Global carbon dioxide emissions — almost 90% of which come from fossil fuels — rose to record highs in 2021–2022.
“Governments' plans to expand fossil fuel production are undermining the energy transition needed to achieve net-zero emissions, throwing humanity's future into question,” said Inger Andersen, Executive Director of UNEP. “Powering economies with clean and efficient energy is the only way to end energy poverty and bring down emissions at the same time."
“Starting at COP28, nations must unite behind a managed and equitable phase-out of coal, oil and gas — to ease the turbulence ahead and benefit every person on this planet,” she added.
The 2023 Production Gap Report provides newly expanded country profiles for 20 major fossil-fuel-producing countries: Australia, Brazil, Canada, China, Colombia, Germany, India, Indonesia, Kazakhstan, Kuwait, Mexico, Nigeria, Norway, Qatar, the Russian Federation, Saudi Arabia, South Africa, the United Arab Emirates, the United Kingdom of Great Britain and Northern Ireland, and the United States of America. These profiles show that most of these governments continue to provide significant policy and financial support for fossil fuel production.
“We find that many governments are promoting fossil gas as an essential ‘transition' fuel but with no apparent plans to transition away from it later,” says Ploy Achakulwisut, a lead author on the report and SEI scientist. “But science says we must start reducing global coal, oil, and gas production and use now — along with scaling up clean energy, reducing methane emissions from all sources, and other climate actions — to keep the 1.5°C goal alive.”
Despite being the root cause of the climate crisis, fossil fuels have remained largely absent from international climate negotiations until recent years. At COP26 in late 2021, governments committed to accelerate efforts towards “the phasedown of unabated coal power and phase-out of inefficient fossil fuel subsidies”, though they did not agree to address the production of all fossil fuels.
“COP28 could be the pivotal moment where governments finally commit to the phase-out of all fossil fuels and acknowledge the role producers have to play in facilitating a managed and equitable transition,” says Michael Lazarus, a lead author on the report and SEI US Centre Director. “Governments with the greatest capacities to transition away from fossil fuel production bear the greatest responsibility to do so while providing finance and support to help other countries do the same.”
More than 80 researchers, from over 30 countries, contributed to the analysis and review, spanning numerous universities, think tanks and other research organizations.
Reactions to the 2023 Production Gap Report
"The writing's on the wall for fossil fuels. By mid-century we need to have consigned coal to the history books, and slashed oil and gas production by at least three quarters — well on the way to a full fossil phase-out. Yet despite their climate promises, governments plan on ploughing yet more money into a dirty, dying industry, while opportunities abound in a flourishing clean energy sector. On top of economic insanity, it is a climate disaster of our own making.” – Neil Grant, Climate and Energy Analyst, Climate Analytics
"Despite governments around the world signing up to ambitious net zero targets, global coal, oil and gas production are all still increasing while planned reductions are nowhere near enough to avoid the worst effects of climate change. This widening gulf between governments' rhetoric and their actions is not only undermining their authority but increasing the risk to us all. We are already on track this decade to produce 460% more coal, 82% more gas, and 29% more oil than would be in line with the 1.5°C warming target. Ahead of COP28, governments must look to dramatically increase transparency about how they will hit emissions targets and bring in legally binding measures to support these aims." – Angela Picciariello, Senior Researcher, IISD
“With demand for coal, oil and gas set to peak this decade even without additional policies, it's clear that the new economic reality is becoming one of clean energy growth and fossil fuel decline — yet governments are failing to plan for the reality of the inevitable energy transition. Continuing investments into new fossil fuel production as global demand for coal, oil and gas narrows is a near term economic gamble for all but the cheapest producers. And climate damages will be aggravated further unless we stop fossil fuel expansion now. The time is now for governments to take control of the clean energy transition and align their policies with the reality of what's needed for a climate-safe world.“ – Katrine Petersen, Senior Policy Advisor at E3G
Distributed by APO Group on behalf of United Nations Environment Programme (UNEP).
SA remains the preferred investment destination in Africa
SA remains the preferred investment destination in Africa
President Cyril Ramaphosa has emphasised that South Africa remains one of the preferred investment destinations and is an important gateway for markets and other business opportunities throughout the continent.
The President was delivering remarks at the Procter & Gamble Plant launch in Kempton Park, in Ekurhuleni, Gauteng.
“As a clear demonstration of the value of trade between African countries, Procter & Gamble currently exports from South Africa to Namibia, Swaziland, Mozambique and Botswana. We understand that the company is set to supply the African continent from South Africa through the implementation of the African Continental Free Trade Area.
“The African Continental Free Trade Area will unlock opportunities for the development of export markets, enhance industrial bases and regional value chains.
“We expect the continental free trade area to reduce the cost and improve the ease of doing business in Africa,” he said, adding that government wants to make the movement of products, processes and people seamless as companies increase their footprint on the continent.
Over the years, P&G has been a valuable partner to the South African government through the South Africa Investment Conference (SAIC), continually announcing new investments.
Procter & Gamble stands behind many brands that are household names in South Africa, such as Vicks, Old Spice, Gillette, Oral B and Pampers, amongst others, and has a strong manufacturing footprint in the country.
The company has been in Africa for over 50 years. It has manufacturing operations in South Africa, Nigeria, Kenya, Egypt and Morocco, and has distributor operations in over 45 countries.
The President said that it has been greatly encouraging to see the company’s response to South Africa’s ambitious investment drive and the investment commitments made by the company at the five South Africa Investment Conferences that we have held since 2018.
“It is a pleasure being here today with all of you to launch this state-of-the-art production line of Pampers Premium Care. The timing of this launch is very opportune.
“South Africa has just hosted the 20th AGOA Forum. It was an opportunity to showcase the capabilities of the African continent to the United States, the world’s largest consumer market. I was pleased to see that leading companies that have an established presence on our continent, like Procter & Gamble, were represented,” he said.
The launch of Tuesday’s production line is the latest in a number of projects that have given effect to Procter & Gamble’s investment pledges.
Through these and other investments, Procter & Gamble is contributing to the reindustrialisation of South Africa’s economy.
“To drive growth that is sustainable and inclusive, we are working to expand and diversify our manufacturing base, and improve its competitiveness and dynamism,” he said.
The President noted that disruptions to global supply chains caused by COVID-19 lockdowns have highlighted the imperative for companies all over the world to diversify their sources of supply.
Investment
“Just as we have seen the benefits of nearshoring and localisation for South African manufacturers, we can appreciate its value to broader global supply stability.
“South Africa is an investment destination with significant untapped potential. We have the ability to attract higher levels of investment and we look forward to working with Procter & Gamble on its future pipeline of investments,” he said.
While investment decisions often take several years to reach fruition, the President said that the investment commitments made to date have already resulted in substantial investment into the productive economy and have created jobs.
He highlighted that Procter & Gamble has heeded government’s call and has sought to increase the participation of small South African businesses in its value chains.
“We are encouraged by the company’s commitment to sourcing local materials, reducing waste, promoting skills development and creating more roles for women in the company.
“We welcome the work the company has undertaken alongside government departments in expanding access to menstrual hygiene products and supporting Early Childhood Development centres.
“We see these partnerships as a testament to the continued commitment of Procter & Gamble to South Africa and the African continent,” the President said.
The President emphasised that government will continue to support Procter & Gamble to increase its footprint through local sourcing and to contribute to job creation, technological development and sustainability.
He congratulated the Procter & Gamble team, from the shop floor to the senior executives, on the launch of this production line.
The President further congratulated the team for the continuous stream of investments being made to increase the company’s footprint on the continent.
“Through the launch of this production line, Procter & Gamble is making a worthy contribution towards our vision of African producers supplying quality goods to African markets.
“This is the vision of a continent that is emerging as the next frontier of global production, meeting the needs of its own people and the peoples of the world,” he said. – SAnews.gov.za
DikelediM
Wed, 11/08/2023 - 15:55
141 views
Cabinet affirms value of AGOA
Cabinet affirms value of AGOA
Cabinet has welcomed the confirmation by both the United States Administration and Congress of the intention to extend AGOA, which brings certainty to the investment community in eligible countries.
“Cabinet has always asserted that the African Growth and Opportunity Act [AGOA] provides an opportunity for the United States of America to strengthen its economic relationship with Africa and thus it must be extended for a meaningful period, enhanced to make it impactful and attractive,” said Minister in The Presidency, Khumbudzo Ntshavheni on Monday.
The 20th AGOA Forum was hosted in Johannesburg last week and it concluded on Saturday.
The forum, held from 2 - 4 November 2023, brought together participants from 32 Africa countries from government, business, civil society and organised labour, for the first time, including representatives of the United States government.
BRICS Tourism Ministers’ Meeting
Cabinet has also welcomed the successful conclusion of the 2023 BRICS Tourism Ministers’ Meeting held in Cape Town, which committed member nations to deeper cooperation and to promote intra-BRICS tourism, develop routes for better tourism mobility and connectivity among the member countries.
Ntshavheni said this will further strengthen South Africa’s tourism sector, which is already showing signs of recovery.
“For the first eight months of 2023, the country saw 5.5 million arrivals, which represented a 63.4% increase from the same period in 2022,” the Minister said.
Held in Cape Town on 24 October 2023, the BRICS Tourism Ministers’ Meeting provided an opportunity for exchange of information and experiences, as well as deepening cooperation among BRICS members to reach consensus on key policy priorities for a balanced tourism recovery.
To ensure continuity and to leverage on the combined strength of BRICS member States, South Africa’s theme for chairing the meeting was: “Sustainable and inclusive tourism recovery”, which aligns to the overall theme of SA’s chairship. – SAnews.gov.za
GabiK
Mon, 11/06/2023 - 14:21
486 views
Hundreds protest at US Consulate – demand ceasefire in Gaza
Calls for Palestinian human rights to be respected
Patel supports call for reauthorisation of AGOA
Patel supports call for reauthorisation of AGOA
Trade, Industry and Competition Minister, Ebrahim Patel, has thrown his weight behind the reauthorisation of the African Growth and Opportunity Act (AGOA) as swiftly as possible and with refinements that do not require lengthy discussions.
Patel was delivering closing remarks at the three-day 20th African Growth and Opportunity Act Forum held at Nasrec in Johannesburg.
“One idea that's come up from the discussions is whether we should consider, if needed, a two-stage programme. But the first stage firmly focused on reauthorisation as rapidly as possible, maybe with a modest package of refinements that does not require lengthy discussions.
“The second stage with further and perhaps deeper improvements that require more time and further study, and that can be done fairly shortly thereafter. We are particularly keen to get the reauthorisation in the earliest part of 2024, so this will be very helpful.
“These are ideas that we want our friends in the United States to think through and consider. We are also reflecting a little bit on these weighing up the pros and cons,” the Minister said.
The Africa Growth and Opportunity Act is a unilateral trade preference scheme that provides qualifying sub-Saharan African countries with duty-free, quota-free access into the United States market. AGOA remains the cornerstone of the USA’s commercial relations with sub-Saharan Africa.
The Minister said that discussions at the forum also looked at a graduation system once countries reach a particular level of advancement, adding that they can be even considered a "constructive conversation about the matrix of that level of advancement".
Patel also emphasised that there are policy areas that need to be relooked, adding that polishing existing policies would make room for more African products to make it to the international market.
“Those colleagues who’ve been enjoying our fruits, SA citrus fruit from the region, which can be available in larger quantities, we can resolve those things. Matters we constructively engage in, for example relating to steel and aluminium, these are practical solutions we believe can unlock the value of trade. In different parts of the continent, in West Africa, there are constraints in accessing the American market. In East Africa, there are different products we need to refine.”
Patel highlighted that the discussions also looked at the idea of small businesses to small business partnership between the African continent and the United States.
“We looked at the product scope. Is there appetite to increase the number of products covered by AGOA? By way of illustration, we shared with Congressional representatives, an example of 10 products where Africa has capacity, and where Africa has fantastic products, some of which you've tasted in the last few days,” he told delegates.
“We recognise we need to balance the level of our ambition on extending the product list against the concerns about the time that may be required to reach consensus in Congress on these factors. While we would obviously prefer as much as possible, we want to avoid such a broad review that we delay reauthorisation,” he said.
Mineral beneficiation
Mineral beneficiation on the African continent was also under the spotlight.
“We said we don't want to be the exporter of rocks. We want to be the exporter of consumer and capital goods… and the producers of electric vehicles. And it raises the question of a moment of a grand bargain between Africa and its friends elsewhere in the world, where there's a partnership around critical minerals, but also with processing of critical minerals on the African continent,” he said.
The Minister believes that the African Continental Free Trade Area (AfCFTA) is a game changer.
He explained that AGOA on its own gave the continent significant access on a range of products to the world's single biggest national consumer market.
“What the AFCFTA will add to that is that the combined weight of access to African markets and access to the US market will give us the scale to draw investment, and scale is what investors look at. They want to be able to see that the size of the market justifies the investment.
“We also said that AFCFTA is helping to foster value chains. It is a critical driver to help industrialise and so more and more countries will now begin to have these value chains, so those value chains will then enable better utilisation of AGOA,” he said.
Impact
The United States of America Trade Representative, Katherine Tai, also addressed the closing ceremony and emphasised that AGOA remains the cornerstone of the U.S. economic partnership with Africa.
“Let us not forget the real impact AGOA has had on real lives, real people: the woman entrepreneur seeking to expand her macadamia nut processing business; the small business owner making apparel and handicrafts, and the countless students and youth, waiting to make their mark on this ever-changing continent,” she said.
President Cyril Ramaphosa addressed the opening of the forum on Friday. In his address, the President said an extension of AGOA for a longer period of time could act as an instrument to entice investors to pour more resources into the African continent.
“We would like you to look at the extension or renewal of AGOA for a sufficiently lengthy period for it to act as an incentive for investors to build new factories on the African continent,” said the President.
The purpose of the forum is to discuss ways to expand trade and investment relations between the United States and sub-Saharan Africa, and the implementation of AGOA, including encouraging joint ventures between small and large businesses. - SAnews.gov.za
DikelediM
Sat, 11/04/2023 - 19:43
247 views
US reiterates commitment to strengthen relations with Africa
US reiterates commitment to strengthen relations with Africa
United States of America Trade Representative, Katherine Tai, has reiterated her country’s commitment to strengthen the U.S.-Africa trade and investment relationship to deliver real opportunities across societies.
Tai was delivering remarks during the closing ceremony of the 20th African Growth and Opportunity Act (AGOA) Forum held in Johannesburg.
She told delegates that she would summarise the interactions that were held over the last three days with the word “commitment”.
“Commitment to strengthen the U.S.-African trade and investment relationship. Commitment to craft a more resilient, sustainable, and inclusive tomorrow across the continent. Commitment to partner with one another to make AGOA stronger and more effective,” she said at the session held on Saturday.
The three-day forum explored the intersection of trade and competition policy and what that means for a fairer economy in Africa and elsewhere. It further discussed how small businesses and women-owned enterprises could be equipped and empowered to succeed and thrive.
The Africa Growth and Opportunity Act is a unilateral trade preference scheme that provides qualifying sub-Saharan African countries with duty-free, quota-free access into the United States market. AGOA remains the cornerstone of the USA’s commercial relations with sub-Saharan Africa.
Tai also highlighted the need to make the AGOA programme more effective and relevant to today’s challenges, and to explore additional areas of cooperation to complement the programme.
Impact
Tai emphasised that AGOA remains the cornerstone of the U.S. economic partnership with Africa.
“Let us not forget the real impact AGOA has had on real lives, real people: the woman entrepreneur seeking to expand her macadamia nut processing business; the small business owner making apparel and handicrafts, and the countless students and youth, waiting to make their mark on this ever-changing continent.
“So, when we say that AGOA is the cornerstone of our economic partnership, we do not mean it in the abstract. It has been a bedrock to improve the livelihoods of so many people across Africa and it has the potential to do so much more. But we can make it even better,” she said.
Tai reflected on the discussions held over the last three days, saying most of the issues discussed were precisely on this topic.
She said this made the programme more effective and relevant to today’s challenges, such as growing inequality and the climate crisis.
Furthering cooperation
“As we discussed during the session on ‘What’s Next in our U.S.-Africa Trade Relations’, we must also explore additional areas of cooperation and other trade tools to complement our AGOA relationship.
“This includes collaborating on AfCFTA [African Continental Free Trade Area] implementation and better using the multilateral trading system to benefit more people, particularly underserved communities,” she said.
The US Ambassador acknowledged that while there is a lot of work ahead, she leaves optimistic and hopeful.
Equitable future
Tai said each of the African perspectives was a powerful reminder to her that trade can and must help craft a fairer and more equitable future for Africa.
“Driving inclusive economic growth. Empowering workers. Delivering real opportunities across all segments of societies, including women, youth, the African Diaspora, and other underserved groups. You all believe that our work has a critical role to play in building this future, and that communal commitment will allow us to accomplish more than we can as individuals.
“It is an understatement to say that this is a partnership. I am honoured to have each of you as colleagues and teammates to use trade as a force for good and to spur a race to the top,” Tai said on the last day of the forum.
The Ambassador urged delegates to stay committed and devoted to the cause.
“Let us be devoted to our cause. Let us not be satisfied with the status quo. Let us continue to build from here, to write the next chapter of our story together -- to make AGOA a beacon that shines for years to come,” she said.
Tai used her speech to extend appreciation to South Africa’s Minister of Trade, Industry and Competition, Ebrahim Patel and the South African government for the warm and welcoming hospitality and immense effort taken to make the forum a success.
She further sent a big thank you to her fellow Trade Ministers and their delegations for the productive dialogue and engagement. – SAnews.gov.za
DikelediM
Sat, 11/04/2023 - 18:20
233 views
Patel outlines vision for prosperous Africa united in trade
Patel outlines vision for prosperous Africa united in trade
Trade, Industry and Competition Minister Ebrahim Patel has used his address at the 2023 Africa Growth and Opportunity Act (AGOA) Forum to galvanise the message of a united Africa that is earnestly at work to reclaim its place in the world.
The 20th AGOA Forum is currently taking place at the Nasrec Expo Centre in Johannesburg, Gauteng, the heart of commerce and trade in South Africa. The forum brings together a large contingent of African Trade Ministers and their delegations, and over 300 delegates from the United States business sector, including the US Chamber of Commerce. Delegates from Business Unity South Africa (Busa), the Black Business Council, Business Leadership South Africa and labour representatives are also in attendance.
Patel told the gathering that Africa is embracing new ideas and ways of doing things, primarily introduced by the evolution of trade.
“For many years the continent was characterised by a network of trade routes that were used to facilitate the flow of goods among Africans trading in any products including gold, salt, beats and ivory.
“African traders crisscrossed the many lands searching for markets for their goods. Africa has strong leads with other regions, particularly the middle East. The AGOA Forum is an opportunity to renew, refresh and strengthen relationships,” Patel said.
With the advent of many innovations, including the establishment of AGOA, which promotes economic growth by fostering a stronger trade partnership between the United States and African nations, Patel said now is the time for Africa to cement its position in the world economy.
“Our trade investment project is aimed at forging economic unity of all Africans to addressing colonialism that has left Africa a small, divided nation.
“Trade is about reclaiming Africa’s place in the world. Trade has played a role in our history. It has connected and linked communities to new ideas and ways of doing things,” Patel said.
The theme for this year’s forum is, ‘Partnering to Build a Resilient, Sustainable, and Inclusive Agenda to Support Economic Development, Industrialisation and Quality Job Creation’.
Patel urged young people, some of whom are exhibiting their businesses and wares at the forum, to take up the opportunities brought on by AGOA. On the eve of the forum, Patel said about 520 firms were expected to exhibit their products at Nasrec.
He said more African countries could benefit from AGOA. Currently, 35 countries in sub-Saharan Africa have been designated as eligible for AGOA benefits.
“AGOA is a market access arrangement with the US Congress put in place for sub-Saharan countries, and we’ve seen trade with the US being a significant part of our trade with the world,” he said.
To qualify for AGOA, a country must first be eligible for the Generalized System of Preferences (GSP) programme. The GSP applies to 3 400 products from designated beneficiary countries, plus a further 1 450 products from least developed countries. AGOA supplements the GSP with an additional 1 835 products.
Only Sub-Saharan African countries are eligible for AGOA. The US determines whether countries have met these requirements of eligibility in Section 104 of the Act.
In order to qualify, countries must already be GSP beneficiary countries – though GSP eligibility does not imply AGOA eligibility. – SAnews.gov.za
Edwin
Fri, 11/03/2023 - 12:30
882 views
US Secretary reiterates President Biden’s commitment to extend AGOA
US Secretary reiterates President Biden's commitment to extend AGOA
United States Secretary of State Antony Blinken has reiterated President Joe Biden’s commitment to extend the African Growth and Opportunity Act (AGOA) beyond 2025 when it expires.
“President Biden fully supports the reauthorisation of AGOA. But we don’t just want to extend AGOA – we want to work with the United States Congress to make it better. And that’s what this week’s dialogue is about,” he said on Friday.
Blinken was addressing delegates through a video speech at the three-day AGOA Forum at the Nasrec Expo Centre in Johannesburg.
Launched in 2000, AGOA grants exports from qualifying African countries duty-free access to the United States market.
“Last year, I travelled to South Africa to lay out the United States strategy to sub-Saharan Africa and to its core, it’s about partnerships -- what the United States can do with African nations and not for African nations.”
Blinken believes that AGOA is critical to realising this vision as thousands of people in sub-Saharan Africa have benefited in the past two decades.
“AGOA has meant new jobs, new skills, new connections and new investment. It has meant less corruption and greater human and labour rights.”
The piece of legislation, according to the United States Secretary of State, has translated into partnerships to advance new solutions to shared challenges from the climate crisis to food insecurity, to supply chain disruptions and vulnerabilities.
“More inclusive, sustainable growth is good for Africa and good for America and good for the world,” Blinken said.
In addition, he said America was dedicated to December’s African Leaders’ Summit commitments, which are essential to creating economies and societies where trade and investment can flourish.
Through the Partnership for Global Infrastructure Investment, Blinken believes his country is lending a helping hand to finance projects like the Lobito Corridor between the Democratic Republic of Congo (DRC), Zambia and Angola, which will enhance connectivity and make it easier to do business in and with Africa.
In addition, the United States, Blinken said, is mobilising US$8 billion in private and public investments to bolster climate resistance and advance women’s economic empowerment.
“We remain the single biggest country investor by far in food security and public health in the region and we’re working on new efforts like our VACS initiative to strengthen African seeds and soils,” he said, adding that they will support elevating African voices in global diplomacy.
Blinken welcomed the African Union joining the G20 and International Monetary Fund, which is working to expand sub-Saharan representation on its Executive Board.
On the other hand, he said the United States remain committed to reforming the United Nations Security Council to include permanent representation for Africa.
“This flourishing partnership between the United States and Africa gives me tremendous hope. And through gatherings like this, we continue to shape a future where workers and businesses are equipped and empowered, where governments are transparent and accountable, where all our people can thrive, and where our nations can come together for the good of our people and the world.”
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 United States for qualifying sub-Saharan African countries by allocating special programme indicators to about 6 800 tariff lines in the American tariff schedule.
This allows United States importers to clear goods sourced from eligible African countries duty-free under AGOA. – SAnews.gov.za
Gabisile
Fri, 11/03/2023 - 13:06
512 views
AGOA, AfCFTA can be complementary
AGOA, AfCFTA can be complementary
Secretary General of the African Continental Free Trade Area (AfCFTA), Wamkele Mene, says the United States of America's African Growth and Opportunity Act (AGOA) initiative and the AfCFTA can be complementary and supportive trade initiatives.
He was speaking at a media briefing on the side lines of the ongoing AGOA forum held in Johannesburg.
At its core, the American driven AGOA is aimed at enhancing market access for countries in Sub-Saharan Africa while the African Union’s AfCFTA is aimed at significantly boosting and enhancing intra-trade across all African states.
“An example of how that alignment can take place is if you look at the protocol on investment which establishes enhanced legal rights for investors but also enables countries to regulate investment inflows in the public interest.
“Similarly in the area of intellectual property rights. The US TR [United States Trade Representative] under Ambassador [Katherine Chi Tai] has been very clear that they support reforms of the global patent system so that it is at the service of public health and at the service, in our case as the continent, at the service of industrial development and job creation.
“These are some of the principles, we believe, should be considered where we are to have a discussion about trade and investment between AGOA eligible countries and the United States. These are some of the complementarities [between AGOA and the AfCFTA] that can be explored,” he said.
Mene said the continent must be “cautious not to create fragmentation within the AfCFTA as we implement AGOA”.
“In the AfCFTA there are countries in North Africa who are state parties to the agreement establishing the AfCFTA. There are also countries that are within AGOA eligibility. So that fragmentation, we have got to address it so that we don’t reverse the gains that we are making in integrating the economy of the African continent.
“I’m very encouraged that the US is willing to listen and is sensitive to this need to progress on integration,” he said at the session.
The Secretary General was emphatic when asked about the possibility of AGOA becoming an obstacle for the implementation of the AfCFTA.
“It’s a technical issue. I don’t think it’s really a political issue, it’s a technical issue about how we make that legal technical alignment between the rules of the AfCFTA and AGOA.
“We are taking measures to ensure that the implementation of AGOA supports industrial development, supports regional integration [and] supports the objectives of the AfCFTA,” he concluded. – SAnews.gov.za
NeoB
Fri, 11/03/2023 - 14:27
514 views
US forges ahead to build stronger relations with Africa under AGOA
US forges ahead to build stronger relations with Africa under AGOA
Amid challenging global economic circumstances, United States Trade Representative Katherine Tai believes there is an opportunity to shape a stronger, new and forward-looking vision for United States-Africa trade, where more segments of society are brought in.
"[A vision] where, as President [Joe] Biden would say, ‘the benefits are realised from the bottom up and the middle out,” Tai told delegates on Friday.
In the words of Tai, the United States remains a committed partner as Africa continues this journey.
Tai was speaking at the three-day African Growth and Opportunity Act (AGOA) Forum currently underway at the Nasrec Expo Centre in Johannesburg.
“As President Biden said at the US-Africa Leaders' Summit last December, ‘the United States is all in on Africa’.”
African Continental Free Trade Area
Tai, who is the principal trade advisor and spokesperson on United States trade policy, announced that her country backs the implementation of the African Continental Free Trade Area (AfCFTA) under the US-AfCFTA Memorandum of Understanding (MoU) on Cooperation for Trade and Investment.
This comes after the AfCFTA Secretary General, Wamkele Mene, and Tai signed the MoU during the summit.
“We created four Technical Working Groups, and the US government is providing approximately $160 million to support the negotiation and implementation of the AfCFTA,” Tai said.
This includes support from the United States Agency for International Development, the US Department of Agriculture, and Prosper Africa.
“The United States is here to build and enhance our relationships so that more Africans can enjoy the benefits of economic growth, to empower workers and their communities, and to build fair and equitable societies, not just for today, but for years to come,” Tai said.
She has since called on all stakeholders to work together to further unlock the potential of the partnership to pursue sustainable and equitable growth, especially for women, youth and the African diaspora.
The representative said she was looking to talk about improving utilisation rates, exploring additional trade tools to complement the AGOA relationship, implementing the AfCFTA, and better use of the multilateral trading system for the benefit of underserved groups.
“All of you in this room play such an important part in fully realising this vision. No one government can get there alone, and that is the power of this forum. A committed and thoughtful community with a common goal of strengthening our US-African trade and investment relationship.”
Tai described AGOA as a vehicle for workers and businesses across Africa.
“This is important, as all of us continue our economic recovery from the COVID pandemic.”
She also shifted her focus to challenges following the pandemic that battered economies, climate crisis, growing inequality and economic insecurity.
“But there have also been positive developments,” Tai said.
The green shoots, she said include trading under the AfCFTA since January 2021 and African Union joining G20 in September this year.
Tai cited the African Development Bank’s report that stated that five of the world’s 10 fastest-growing economies are projected to be in Africa.
She singled out South Africa, which is ranked one of the largest AGOA users, with the country being the top exporter in 2022, with $3.6 billion in exports.
“South Africa is leading the continent on other aspects as well, including through its clear commitment to human rights.”
She noted that the total goods imported into the United States under AGOA was about $10 billion in 2022, a significant increase compared to $6.8 billion in 2021.
Meanwhile, the non-petroleum imports – major sources of new investment and jobs in Africa, went up to $5.7 billion in 2022, from $5 billion in 2021.
“The programme has fostered economic growth and development on the continent to increase investment and to create new jobs and opportunities,” Tai said. – SAnews.gov.za
Gabisile
Fri, 11/03/2023 - 14:27
343 views
Cosatu backs SA’s continued AGOA membership
Cosatu backs SA’s continued AGOA membership
Congress of South African Trade Unions (Cosatu) President Zingiswa Losi says the federation has thrown its weight behind the African Growth and Opportunity Act (AGOA) and for its renewal as the country continues to fight joblessness.
“As a trade federation movement, our responsibility is towards ensuring we protect jobs and that is why we have always had support for our government.
“But beyond that, we continue to advocate and request our sister federation in the US to be our voice on that side that the United States of America and the Biden administration will be able to renew AGOA for the next 10 years before they go for their elections next year,” she said on Friday.
Losi was speaking during a media briefing on the sidelines of the AGOA Forum, which is currently underway at the Nasrec Expo Centre in Johannesburg.
Launched in 2000, AGOA grants exports from qualifying African countries duty-free access to the United States market.
She reflected on the impact of the piece of legislation, which has created 450 000 jobs linked to the United States-Africa trade in different sectors. Losi said the mining, manufacturing, auto manufacturing, clothing, agriculture and jewellery industries have benefited from the legislation through exports.
The Cosatu President said the federation supports South Africa’s continued AGOA membership.
“It is also important that that unaligned role is strengthened when we deal with the geopolitics and it’s critical for government and business to simultaneously expand the trade and investment with other large trading partners such as the European Union, China and Japan and as you know we’re also part of the BRICS Trade Union Forum.”
Diversification, Losi believes, will ensure South Africa is able to trade with all countries to address the 42% unemployment rate, of which 60% of those are youngsters.
“Importantly, for us to do that we need to address issues of energy in the country, crime and corruption and also the issues of rail and infrastructure.”
Meanwhile, during President Cyril Ramaphosa’s main address, he said he remains concerned about the negative effects that trade restrictions on products like steel, aluminium or citrus fruit have on AGOA utilisation rates.
President Ramaphosa said he hopes the forum will help lay the basis for these to be addressed in future and that more targeted efforts to promote greater levels of investment can help unlock AGOA’s opportunities. – SAnews.gov.za
Gabisile
Fri, 11/03/2023 - 15:36
143 views
President Ramaphosa calls for substantial lengthening of AGOA
President Ramaphosa calls for substantial lengthening of AGOA
An extension of the African Growth and Opportunity Act (AGOA) for a longer period of time can act as an instrument to entice investors to pour more resources into the African continent.
“We would like you to look at the extension or renewal of AGOA for a sufficiently lengthy period for it to act as an incentive for investors to build new factories on the African continent.
“As we were going around talking to a number of product producers, the recurring message and word I heard is ‘we can do more…if this opportunity is extended and we can build more capacity if we have certainty that yes, the period of extension will be longer’.
“Shorter periods of extension impede investment ambitions and we therefore want to see a much lengthier period of extension. The United States and Africa… are going to be here for a long time. We are here for the long haul so let us make AGOA a long haul opportunity for all of us,” said President Cyril Ramaphosa at the opening of the AGOA Forum, currently underway at Nasrec in Johannesburg.
The President reflected on the successes that have been made under AGOA for African countries.
“When excluding exports of crude oil under AGOA, the data show that the programme has substantially improved the export competitiveness of certain African products, especially textiles and apparel.
“Apparel exports from Lesotho, Ethiopia, Mauritius, Madagascar and Kenya have not only led to the creation of tens of thousands of jobs but these countries have become reliable producers for American consumers.
“Other parts of manufacturing have also seen success under AGOA. South Africa’s auto exports to the United States under AGOA have contributed to job creation in South Africa and in the auto supply chain within neighbouring countries.
“We value the relationship with the United States, the world’s largest national market, and a country with which we have relationships that go well beyond trade. The African Growth and Opportunity Act – or AGOA – has served as the cornerstone of the US-Africa commercial relationship for more than two decades,” President Ramaphosa said.
Africa on the rise
President Ramaphosa told the forum that trading has been in the DNA of Africans for thousands of years – predating colonial oppression.
“From earlier times, our forebears were already trading not only within Africa but with the rest of the world. They traded right across the continent… but they also traded with the world. Trading is part of our DNA; it is in our blood and it is this trading that we want to modernise and we look for partners to support us in this development as we modernise our trading practices and relations,” he said.
As the continent continues to modernise its trading, it is moving away from being a supplier of raw materials to a producer of ready-made consumer products.
“Africa is an important source of critical raw materials but we do not want to be defined by simply being the producers of commodities. The great industrial opportunity lies instead in the transformation of the rocks that we mine and the metal that we produce into the sophisticated industrial and consumer goods that societies across the world need.
“Gone should be the days when Africa is just seen as a source of rock, soil and dust being exported out of our continent. We now want to produce the products that are finished or near finished, which are utilised in other parts of the world. We want to earn full value for our products,” he said.
President Ramaphosa said he remains concerned about the negative effects that trade restrictions on products like steel, aluminium or citrus fruit have on AGOA utilisation rates.
“We hope that the discussions at this forum will help lay the basis for these to be addressed in future.”
The President said more targeted efforts to promote greater levels of investment can help to unlock AGOA’s opportunities.
The purpose of the forum is to discuss ways to expand trade and investment relations between the United States and sub-Saharan Africa, and the implementation of AGOA, including encouraging joint ventures between small and large businesses. - SAnews.gov.za
NeoB
Fri, 11/03/2023 - 13:07
125 views
AGOA an opportunity to elevate labour standards and social justice issues
AGOA an opportunity to elevate labour standards and social justice issues
The African Growth and Opportunity Act (AGOA) Forum creates a significant opportunity to elevate issues associated with labour standards and social justice.
This is according to Employment and Labour Minister Thulas Nxesi who delivered opening remarks at the Organised Labour and Civil Society AGOA Forum on Thursday.
“We exist within complex social and economic environments that are ever changing. But our goals should be to achieve social justice and decent work for all people through a focus on decreasing unpaid labour, increasing social protection, doing away with employment discrimination, increasing wages, and improving job security.
“Through these efforts we could contribute significantly to raising the standard of living within our communities,” he said.
The Africa Growth and Opportunity Act is a unilateral trade preference scheme that provides qualifying Sub-Saharan African countries with duty-free, quota-free access into the United States market. AGOA remains the cornerstone of the USA’s commercial relations with Sub-Saharan Africa.
The Minister highlighted that an important component of the AGOA built into the AGOA Act are issues of labour, employment and human rights.
He said that each AGOA Forum has had a Civil Society Forum on the fringes which has included organised labour and civil society organisations from AGOA eligible countries.
However, the Organised Labour and Civil Society Forum being hosted in South Africa marks the first time that organised labour is elevated as a separate sector.
“From a South African perspective we see this as a significant step to elevate some key issues in relation to employment, labour rights and trade matters,” the Minister said.
Nxesi said Africa has a youthful workforce and this creates a significant opportunity for the development of the continent.
“To be able to leverage this immense potential it is becoming increasingly important to consider the forces at play in shaping the future of work globally and on the continent.
“The digital transformation and technological advancements in and across sectors create immense opportunities for greater diversification within sectors of the economy however, they also pose challenges to our labour and social fabric.
“Therefore, as we grapple with the integration and mainstreaming of these forces into our communities we should not lose sight of the importance of respecting, promoting and realising fundamental principles and rights at work,” he said.
Guided by international labour standards, the Minister said stakeholders should seek to create resilient, sustainable and inclusive communities with greater levels of equity that lead to the improvement of living standards.
Nxesi said the question that needs to be asked is: “How do we best utilise the opportunities which come with AGOA to expand trade and investment – but in such a way that we create employment, thus improving the conditions of our people – whilst also strengthening human and labour rights?” – SAnews.gov.za
DikelediM
Fri, 11/03/2023 - 09:13
148 views
AGOA Trade and Economic Cooperation Forum
AGOA Trade and Economic Cooperation Forum
By Michael Currin
Growing business, trade and investment ties between sub-Saharan African nations that are part of the Africa Growth and Opportunity Act and the United States (US) holds enormous benefits for the two regions.
Last year the combined two-way trade between AGOA beneficiaries and the United States exceeded $46 billion and there is strong potential for further growth as trade and investment is deepened.
These trade and investment opportunities will be explored at the 2023 AGOA Trade and Economic Cooperation Forum, which is being hosted by South Africa at the Johannesburg Expo Centre from 2-4 November 2023.
The forum, attended by a senior delegation from the United States and 35 Sub-Saharan Africa Trade Ministers, will seek to strengthen trade and investment. Moreover, with African Regional Economic Communities, civil society, organised and business representatives in attendance, it also encourages regional integration.
There is ample room for growth between the US and Africa, particularly in the critical mineral value chain which is at the centre of the global clean energy transition. The continent is a major producer of cobalt, copper, bauxite, chromium, high purity iron ore, platinum group metals and lithium which is needed for the global energy transition.
Those who partner with the continent will have access to these critical resources to spur on and benefit from the clean energy revolution. The International Energy Agency’s World Energy Outlook 2022 foresees demand for these critical minerals more than doubling by 2030 and quadrupling by 2050.
The forum also reaffirms Africa as a capable economic partner and a lucrative destination for growth and investment. Sub-Saharan African economies are on the rise following the impact of COVD-19 with the International Monetary Fund's Regional Economic Outlook forecasting their growth by 4.2 per cent in 2024 from 3,6 per cent in 2023.
Alongside the forum will be the Made in Africa exhibition that will display the products of more than 500 companies from across Sub-Saharan Africa. It will exhibit the region’s agricultural, automotive, chemicals, metals and minerals, mining and machinery, clothing and textiles, leather and footwear and the boatbuilding sector products.
Significantly, this forum is the last engagement hosted in Sub-Saharan African before the expiry of the current iteration of the African Growth and Opportunity Act in June 2025. AGOA has been at the core of United States economic policy and commercial engagement with Africa.
It was signed into law on 18 May 2000 to provide duty-free exports of goods from 40 sub-Saharan African countries to the United States, giving them a competitive advantage in the lucrative US market.
There are over 5240 tariff items that qualify for the AGOA ranging from apparel and footwear, wine, certain motor vehicle components, a variety of agricultural products, chemicals as well as steel.
The 2023 AGOA Trade and Economic Cooperation Forum is an opportunity to lobby for the renewal of AGOA beyond 2025 as a mutually beneficial platform for global exchange and growth for the industries involved, and as a gateway to the vibrant African market. An extension of AGOA will promote inward investment in Africa and deepen the impact of industrialisation on the continent.
Furthermore, it will also support our efforts to increase trade through the African Continental Free Trade Area (AfCFTA) that covers 54 countries and 1.4 billion people. It is anticipated that Africa’s trade will be greatly boosted by AfCFTA and the US stands to gain access to a single market, which is projected to grow to 1.7 billion people and $6.7 trillion in consumer and business spending by 2030.
The trade relationship between the US and South Africa has greatly benefitted from the AGOA agreement.
South Africa remains a key source of raw materials for the American economy and has become one of the region’s top 3 exporters to the US. The most success has been in our automobile sector which is the country’s biggest single beneficiary of the programme. Our local citrus industry has also benefited with the Western Cape exporting approximately R1.6 billion worth of citrus to the US under AGOA in 2022.
Other leading exports to the US included iron and steel, edible fruits, organic chemicals and precious stones. It helped create a total of 62 395 direct and indirect jobs, while overall AGOA generated an estimated 350 000 direct and 1.3-million indirect jobs in Sub-Saharan Africa.
South Africa looks forward to welcoming stakeholders from the US and across the continent to the forum. The stronger ties will ensure reciprocal trade and investment that will benefit both the US and Africa.
* Michael Currin is the Deputy Director-General Intergovernmental Coordination and Stakeholder Management at the Government Communication and Information System
Janine
Thu, 11/02/2023 - 08:54
287 views
LG Electronics Reports Outstanding Third-Quarter 2023 Financial Results
LG ANNOUNCES THIRD-QUARTER 2023 FINANCIAL RESULTS High Performance, Strong Profitability Reflect Progress in Advancing Business Portfolio, Accelerating B2B Business and Procuring New Growth Engines LG Electronics Inc. (LG) today announced third-quarter 2023 consolidated revenue of KRW 20.7 trillion and operating profit of KRW 996.7 billion, both the second highest third-quarter figures in the company’s history. …
Budget cuts: Why doesn’t the government use some of the money in this R459-billion account?
The reasons for not using money from the Gold and Foreign Exchange Contingency Reserve Account are political, not legal or economic
SA participates in Cairo Water Week
SA participates in Cairo Water Week
Water and Sanitation Deputy Minister David Mahlobo will participate in a high-level ministerial panel discussion at the sixth edition of Cairo Water Week (CWW2023) in Cairo, Egypt this week.
The conference, to be held from 29 October to 2 November 20203, is organised by the Egyptian Ministry of Water Resources and Irrigation and will be attended by ministers, water experts, stakeholders, and academics from around the world.
Held under the theme: “Action on Water Adaptation for Sustainability”, the conference will focus on fostering cross-sectoral cooperation and present innovative solutions for the sustainable management of water resources.
Over the past five years, Cairo Water Week has evolved into a prominent global platform for addressing pressing water-related challenges.
The Department of Water and Sanitation said through its diverse workshops, seminars, and knowledge exchanges, it has played a pivotal role in shaping innovative solutions and collaborative strategies to tackle issues such as water scarcity, climate change, and ecosystem resilience.
The Deputy Minister will engage in constructive discussions on vital issues, including policies, strategies, plans, and measures related to water adaptation, to ensure sustainability for the Arab, Mediterranean, African, and worldwide regions.
“Among the issues to be discussed is technologies of reclamation and desalination of water in the African region, which can increase freshwater supplies to areas that are experiencing decreased water supply and water quality,” the department said in a statement.
The department noted that the current installed desalination inventory in South Africa is very modest in comparison to other parts of the world like the Middle East and North Africa (MENA) region, Australia and the United States of America.
“There are about 33 plants that have been built over several years, with a combined capacity of not exceeding a total of 200 Ml/d to treat various types of waste water, including seawater and mine water for mostly domestic consumption.
“The plant capacities range from 1 kl/d to 47 Ml/d, but the vast majority are smaller than 10 Ml/d and were implemented as emergency drought response projects. Such plants are generally not deemed viable for continued operation when the drought breaks and conditions returned to normal. For comparison some of the new schemes coming up in MENA region are in the order of 600 Ml/day,” the department said.
Mahlobo said South Africa needs to increase projects for the reuse, reclamation, and desalination of seawater to strengthen its water resilience.
This is in line with the country’s National Water and Sanitation Master Plan. – SAnews.gov.za
GabiK
Sun, 10/29/2023 - 11:06
90 views
Life-saving TB drug is now cheaper in South Africa, but not as competitive as it can be
Johnson & Johnson has agreed to drop the price of bedaquiline to the South African government by more than 40%
President Ramaphosa to host AGOA forum
President Ramaphosa to host AGOA forum
President Cyril Ramaphosa will address shared priorities and opportunities to make the African Growth and Opportunity Act (AGOA) more transformative during the forum’s 20th gathering to be held in Johannesburg next week.
This is according to Presidential Spokesperson Vincent Magwenya, who on Thursday briefed the media on the President’s upcoming engagements.
“The AGOA Forum serves as a vital platform for the United States to build on the success of the Africa Leaders’ Summit and further enhance the economic partnership with African states, under the aegis of the United States’ African Growth and Opportunity Act that was approved by the US Congress in May 2000," Magwenya said.
The event brings together the US government together with the governments of eligible African countries and economic organisations, business, labour and civil society.
“Over the course of the event, participants will delve into conversations about strengthening trade and investment ties between the United States and Sub-Saharan Africa, with a focus on promoting resilient, sustainable, and inclusive economic growth and development.
“AGOA…remains a key driver of economic growth and development. An extension of AGOA beyond 2025 is expected to promote inward investment in Africa and provide mutual benefits to the United States and African countries.
“This extension will further support the African Continental Free Trade Area, covering 54 countries and 1.4 billion people,” Magwenya said.
South Africa has derived benefits from AGOA, including the following:
- In 2022, South African exports under the Most Favoured Nation system accounted for the largest share and export value of the country’s total exports to the US market, steadily growing from US$5.6 billion in 2011 to US$12.7 billion in 2022.
- Trade under AGOA accounted for approximately 21% of South Africa's total exports to the United States in 2022, increasing in value from US$2.0 billion in 2021 to US$3.0 billion in 2022.
- AGOA has been estimated to create numerous jobs in Sub-Saharan Africa, with South Africa benefiting from the creation of 62 395 jobs, both directly and indirectly.
- AGOA exports represented 21% of total South African exports in 2022, up from 13% in 2021.
“Since its inception in 2000, the African Growth and Opportunity Act (AGOA) has been pivotal in strengthening economic ties and promoting growth and development across the African continent.
“AGOA has opened up new market opportunities, facilitated economic growth, encouraged economic and political reform, and improved economic relations between the United States and Sub-Saharan Africa.
“It remains a cornerstone of United States economic policy and commercial engagement with Africa,” Magwenya concluded. – SAnews.gov.za
NeoB
Thu, 10/26/2023 - 14:31
523 views
Large African delegation expected to attend the AGOA Forum in SA
Large African delegation expected to attend the AGOA Forum in SA
A large number of African Trade Ministers and their delegations are expected to attend the African Growth and Opportunity Act (AGOA) Forum taking place in South Africa next week.
“The US delegation at the Forum will be led by the US Trade Secretary Ambassador [Katherine Tai] together with members of the Congress, businesspeople and business delegation from around the continent,” Trade, Industry and Competition Minister Ebrahim Patel said.
Addressing the media on the state of South Africa’s readiness to host the AGOA Forum in Sandton, Johannesburg, earlier today, Patel said the Forum will also be attended by labour representatives from the United States and South African business people.
“We have taken steps to reduce barriers on trade. South Africa is the biggest trade market partner in the Sub-Saharan,” Patel said, adding that the forum is set to widen the trade corridors between South Africa, Africa, and the United States of America.
Patel explained that during the Forum there will be a number of break-away sessions as well as displays of products.
To date, 360 delegates from the US business sector, including the US Chamber of Commerce, together with delegates from Business Unity South Africa (Busa), Black Business Council, and Business Leadership South Africa have registered for the forum.
A further 80 labour representatives have registered to attend the Forum.
Minister Patel said about 520 firms were expected to exhibit their products at Nasrec.
The theme of this year’s Forum is: Partnering to Build a Resilient, Sustainable and Inclusive Agenda to Support Economic Development, Industrialisation and Quality Job Creation.
The AGOA is a United States of America trade programme that provides eligible countries in sub-Saharan Africa with preferential access to the US markets. The AGOA aims to promote economic growth, reduce poverty, and foster a stronger trade partnership between the United States and African nations.
South Africa will be hosting the AGOA Forum for 2023 in Johannesburg from 2 - 4 November 2023.
This will be the third time the AGOA Forum is hosted in Southern Africa after Zambia in 2011 and Mauritius in 2003.
The purpose of the Forum is to discuss ways to expand trade and investment relations between the United States and sub-Saharan Africa and the implementation of AGOA including encouraging joint ventures between small and large businesses.
The AGOA Forum will consist of the following elements:
The Formal AGOA Forum, with representatives of governments, and business/labour delegates.
- A Forum of African Trade Ministers.
- Private Sector Forum.
- A Labour Forum.
- A Civil Society Forum.
- Forums on competition policy, trade administration, technical standards and development finance.
- An industrial Exhibition, with industrial products.
- African cuisine plus food and beverages.
- A display of African history, film and music.
- Official dinner and VIP lunches (organised by SA).
- Closing reception (organised by USA).
- Possible community visits.
Currently, 35 countries in Sub-Saharan Africa have been designated as eligible for AGOA benefits.
To qualify for AGOA, a country must first be eligible for the Generalized System of Preferences (GSP) program. The GSP applies to 3 400 products from designated beneficiary countries, plus a further 1 450 products from least developed countries. AGOA supplements the GSP with an additional 1 835 products.
Only Sub-Saharan African countries are eligible for AGOA. The US determines whether countries have met these requirements of eligibility in Section 104 of the Act.
In order to qualify, countries must already be GSP beneficiary countries – though GSP eligibility does not imply AGOA eligibility. – SAnews.gov.za
Edwin
Thu, 10/26/2023 - 15:36
211 views