Western Cape Government notes US legislation to extend AGOA benefits
15 April 2024
Premier Alan Winde noted the introduction of legislation in the United States of America that will see the extension of the African Growth and Opportunity Act (AGOA), benefitting several African nations, including South Africa.
“This is a step in the right direction. AGOA has been critical for the Western Cape and South Africa. It has benefitted and boosted the Western Cape’s economy, particularly the province’s job-creating agriculture sector and extending the programme will go a long way in furthering our province’s promising growth,” the Premier said.
South Africa’s agricultural sector benefits immensely from access to AGOA, with 70% of agricultural products to the US relying on the programme. But the Western Cape’s economic losses, especially to this sector – should South Africa have lost access to AGOA benefits - would have been twice the magnitude of the rest of the country.
AGOA is a preferential trade programme that came into effect in 2000.