Global Courant 2023-04-11 19:55:58
The Somali government on Thursday officially applied to join the 36 African countries, using the African Growth and Opportunity Act (AGOA). The announcement was made during the Somalia AGOA application ceremony, where outgoing US Ambassador to Somalia, Larry André, highlighted the United States’ commitment to expanding and modernizing partnerships in Africa and Somalia.
Ambassador André stressed that the US will focus on working with Somalia and its people to find innovative solutions to new and long-standing challenges, harness new research and technologies, and invest in long-term sources of power, while providing immediate needs.
Since its adoption by the US Congress in 2000, AGOA has been at the core of US economic policy and trade relations with Africa. According to Ambassador André, AGOA will enable Somalia to export its products to the US market with significantly less trade barriers. However, to meet AGOA’s strict entry requirements, Somalia needs to make further progress in establishing a market economy, the rule of law, political pluralism and the right to a fair trial. In addition, Somalia is expected to implement policies to reduce poverty, fight corruption and protect human rights.
Ambassador André said: “This policy will create a stable and predictable environment in which companies can operate and ensure that resources are used effectively and efficiently. With all this in mind, the Embassy is honored to provide a link between the Federal Government of Somalia and the US Trade Representative.”
Somalia’s eligibility to join AGOA will be determined through an assessment process.
US President Joe Biden recently signed a 10-year extension to AGOA, a major trade policy first introduced by President Bill Clinton in 2000. This extension guarantees that AGOA, which provides duty-free access to more than 6,000 products from sub-Africa Sahara to the US market, does not expire in 2025.
