2003-1-23 9:12:00
US special trade representative Robert Zoellick will be among the business leaders attending the Agoa Forum, a three-day ministerial meeting that begins in Mauritius tomorrow.
The summit will put the spotlight on the future of The Africa Growth and Opportunity Act after its expiration in 2008, as well as concerns voiced by African governments about the viability of the agreement.
They point out that although Agoa, the US law passed in 2000 giving sub-Saharan Africa increased access to the US market by scrapping certain tariffs, has benefited countries like South Africa, Mauritius and Lesotho, of the 38 countries eligible for Agoa benefits only 22 had exported something under the programme by mid-2002. Five countries account for 95 per cent of Agoa exports and most of that is oil they say.
In the first half of 2002, more than 80 per cent of Agoa exports to the US were made up of oil-related products. Textiles and apparel made up 10 per cent and transportation equipment 6 per cent. One per cent of the total went to agricultural exports.
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