The African Growth and Opportunity Act (AGOA), which expanded duty-free access for imports from eligible countries in sub-Saharan Africa, was signed into law in 2000. Over the course of 15 years, AGOA created economic opportunities in and boosted competitiveness of beneficiary countries, while also improving US-African ties and adding new markets for US exports and investments. Although there have been substantial gains from AGOA, there is room for improvement. A couple key points include long-term extension necessary to encourage investments, as well as expansion of product scope.
With the program due to expire in September 2015, the AGOA Extension and Enhancement of 2015 was introduced in both the Senate and the House earlier this year. In May, by a vote of 91-1, the Senate approved the extension and offered a clear sign of the bipartisan support for the program. The bill also passed the House, in June, with an equally overwhelming majority, 397-32. To help observers better understand the importance of AGOA's renewal, we have listed some key figures below:
What numbers would you include? Comment below to let us know of any additional facts and figures used to describe AGOA’s impact over the last 15 years and its potential going forward.