The Portfolio Committee on International Relations and Cooperation has welcomed US President Barrack Obama’s pronouncements regarding Africa-US trade and investment and the support for the renewal of the Africa Growth Opportunity Act (AGOA).
The Chairperson, Mr Siphosezwe Masango, said, “Evidentially, the US-Africa trade relations are sound and strong. President Obama’s commitment to Africa will ensure that African economies will not suffer on account of lack of investments.”
He added: “This is an indication that the US does not just regard the continent as a battlefield where it could fight trade battles with the East. The continent has a lot of growth potential, and any significant world trade player will not look away. The announcement of a revival of the AGOA is particularly reassuring that the US will work with regional, bilateral and multilateral organisations in taking our continent forward.”
More than 50 African Heads of States recently concluded a summit with the US – on invitation of President Obama – where it was agreed that Africa would work and build stronger trade ties with the US. President Obama promised $33 billion in investments to Africa, financial support for Africa’s standby force, but also voiced support for the renewal of AGOA, meant to support and grow trade on the continent.
Mr Masango said there had to be a shift in ensuring that the promised investments were implemented and translated into tangible growth opportunities, in line with Agenda 63 of the African Union.
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