Mozambique and U.S launch African Growth and Opportunity Act utilization strategy to grow trade
The Ministry of Industry and Commerce has launched Mozambique’s AGOA Utilization Strategy.
Designed to increase trade and economic growth throughout Africa, the Strategy will help ensure Mozambican businesses are better positioned to use AGOA for duty free access to the U.S. market for more than 6,500 products.
Although AGOA was enacted in the year 2000, only $1 million of the $100 million of Mozambican exports into the United States take advantage of AGOA’s duty free access.
For this reason, the U. S. Government, through the USAID Speed+ project, helped the Government of Mozambique develop its AGOA Utilization Strategy, and the USAID Southern Africa Trade and Investment Hub continues to engage with Mozambican companies to promote increased bilateral trade and investment.
AGOA is the United States’ cornerstone trade initiative with sub-Saharan Africa and a strong symbol of U.S. partnership with the region. The ten-year extension of AGOA to 2025 offers the private sector an opportunity to develop and implement a more long term trading relationship with the United States.
In his remarks at the AGOA Utilization Strategy launch, U.S. Ambassador to Mozambique Dean Pittman noted “Trade incentives to access the American market will lead to increased investments in Africa, creating more jobs and economic opportunities for all.”
Mozambique’s AGOA Utilization Strategy will prioritize key sectors and products for potential trade expansion to the United States including: Textiles/Apparel manufacturing; Specialty Foods and Agro-processing, cashews, pigeon peas, cassava, shelled almonds, kidney beans, macadamia nuts, cane molasses, etc.; and precious metals.