CCA Supports AGOA Extension to Strengthen U.S.–Africa Trade
The Honorable Jason Smith Chairman
Ways and Means Committee House of Representatives
Dear Chairman Smith:
On behalf of the members and Board of Directors of the Corporate Council on Africa (CCA), I want to endorse the AGOA Extension Act you introduced on December 8 which would extend the African Growth and Opportunity Act (AGOA) through December 31, 2028.
As the largest U.S.-based trade association exclusively focused on promoting U.S.-African trade and investment ties for more than three decades, CCA and many of its members have been strong supporters of AGOA since its inception in 2000. Every year, AGOA delivers close to a billion dollars in benefits to American consumers while also helping American companies be more competitive with global rivals and sustaining more than 300,000 jobs in the U.S., generating an estimated $1.8 billion in annual salaries.
Over the years, CCA has organized the AGOA Private Sector Forum, which has become an ever more effective mechanism to translate AGOA’s potential into real-world commercial deals between U.S. and African partners. As beneficial as AGOA has been, its potential future benefits are significantly greater as the advent of the African Continental Free Trade Area Agreement (AfCFTA) is creating the regional and continental value chains that will better enable American companies to partner with African counterparts. The extension of AGOA proposed in your bill would create a solid base on which to work with America’s African partners to build on the tools present under AGOA and AfCFTA to strengthen our trade and investment partnership with Africa for the coming decade to our mutual benefit.
CCA applauds your leadership in introducing this important bill and looks forward to working with your committee and the rest of Congress to secure its early passage as an important part of creating more opportunities to increase trade and investment between the United States and Africa.
Sincerely,
Florizelle B. Liser
