Attendees at the Nigeria Oil Refineries Conference 2023 discuss industry updates and future plans.
The Biden administration will host trade ministers from developing countries in Washington, D.C., next week for the 21st US-Sub-Saharan Africa Trade and Economic Cooperation Forum. The event, which will take place from July 24 to 26, will focus on enhancing US-Africa trade and investment cooperation. It will also provide a platform for attendees to discuss extending the African Growth and Opportunity Act (AGOA) until 2041. Enacted in 2000, AGOA provides duty-free access to the US market for over 1,800 products from eligible sub-Saharan African countries. In 2023, US imports under AGOA totaled $9.7 billion. The Act is set to expire next year but plans are already underway to extend it till 2041. The forum will be attended by the governments of the United States government as well as those of AGOA-eligible countries. It will also have representatives of regional economic organizations, civil society, labor, and the private sector in attendance.
SOURCE: THE EAST AFRICAN