U.S. Congress enacts African Growth and
Opportunity Act to grant U.S. trade benefits to Sub-Saharan countries of Africa
The
U.S. House of Representatives (voting 309-110) and the Senate (voting 77-19)
have passed the African Growth and Opportunity Act (H.R. 434) (AGOA), and
President Clinton signed it into law on May 18, 2000. (The Act is part of the
Trade and Development Act of 2000 which also provides trade benefits to the
Caribbean Basin, Albania, and Kyrgyzstan). The AGOA seeks to promote a positive
trading partnership between the U.S. and the 48 listed nations of Sub-Sarahan
Africa.
In
particular, the Act will "authorize a new trade and investment policy for
Sub-Saharan Africa, expand trade benefits to the countries in the Caribbean
Basin, renew the generalized system of preferences, and reauthorize the trade
adjustment assistance programs." (Preamble) It is part of a broader
initiative to support the integration of African countries into the
multilateral trading system, such as the Economic Growth and Opportunity in
Africa (Partnership Initiative) announced in 1997.
The
AGOA emphasizes free markets and self-sufficiency. The listed sub-Saharan
African countries that meet human rights and economic liberalization standards,
as determined by the President, become eligible for economic programs and other
support (Section 104). In particular, the Act directs the President:
(1)
To convene annual high-level meetings between the U.S. government and
governments of Sub-Saharan countries to foster close economic relations, and to
establish a U.S.-Sub-Saharan Africa Trade and Economic Cooperation Forum as an
encouragement for setting up joint ventures between large and small businesses
(Section 5).
(2)
To develop a plan for a U.S.-Sub-Saharan Africa Free Trade Area and to have the
U.S. enter into trade agreements with specific countries (Section 116).
(3)
To Create an Office of the Assistant United States Trade Representative for
African Affairs (Section 117), and
(4)
To direct the Secretary of Commerce to ensure the stationing of at least 20
full-time U.S. and Foreign Commercial Service employees in at least 10
different Sub-Saharan countries (Section 125).
[Editorial
Note: In a related matter, President Clinton has released a Report to Congress
on Trade and Development Policy Toward Africa. This Report is the latest in a
series of five annual reports outlining the Government's trade and development
strategy toward Sub-Saharan Africa. It describes the Government's initiatives
to increase trade and investment with those countries, and emphasizes its
commitment to the AGOA.]
Citation: Pub. L. No. 106-200 (May 18, 2000); 114 Stat. 251. [For
previous history of bill, see 145 Cong. Rec. S 13776 (November 3, 1999); U.S.
Trade Representative press release 99-92 (November 3, 1999). [For additional
information on Act and closely related matters, see African Studies website of
University of Pennsylvania "www.sas.upenn.edu"; U.S. Trade
Representative press release 00-07 (January 27, 2000) Press release 00-33 on
President Clinton's Report on Africa (May 4, 2000) (Endorses Africa/CBI Trade
Bill) & 00-36 (May 11, 2000) (Lauds final passage of bill)].
**** Mr. Richard Ehrlich is a specialist in Corporate, Estate and Personal Financial Planning in Florida. In the course of his career, he has prepared hundreds of estate plans and helped hundreds of small businesses navigate the various issues involving insurance, retirement and employee retention. He has helped numerous families deal with the difficulties of taking care of elderly relatives and assisted with all of their long-term planning and long-term care needs. Finally, he has helped investors with their losses in unsuitable investments. LinkedIn Profile: https://www.linkedin.com/in/richard-ehrlich-777b513/; Attorney Profile: http://www.eldercounsel.com/profile/richard-ehrlich-ehrlich-law-center-pa/; Attorney Profile: https://solomonlawguild.com/richard-ehrlich%2C-esq; Attorney News: https://attorneygazette.com/richard-ehrlich%2C-esq#c35a1098-f039-43ab-b0dc-06cff6dabf61
