Event

The NFTC meeting on AGOA renewal originally scheduled for December 10 has been rescheduled to December 13, 10:45 at the Embassy Row hotel at 2015 Massachusetts Avenue. Assistant USTR for Africa Florie Liser will brief us on the Administration’s plans for renewal and possible expansion of AGOA. Please RSVP to Dan O’Flaherty at doflaherty@nftc.org.

NFTC Trade Committee Meeting on AGOA Renewal, to discuss business interest in renewing and possibly enhancing the Africa Growth and Opportunity Act (AGOA), and what role the NFTC might play, including advocacy with the Congress and the Executive Branch. The first action-forcing event will be testimony before the International Trade Commission on January 14th in response to Ambassador Froman’s request for a review of AGOA by next spring.

We will also discuss the ways in which AGOA benefits American companies that operate on the African continent and potential changes in the law arising from the renewal debate. AGOA currently extends duty free access to the U.S. market for specified goods from 39 African countries and it thereby benefits American companies that source from those countries. Although AGOA’s legislation does not expire until September 30, 2015, Ambassador Froman has urged earlier action by the Congress. Citing high rates of GDP growth and commercial opportunities in infrastructure, manufacturing, services and agriculture in many AGOA-eligible countries, Froman has called Africa the "planet’s next great success story." There is a possibility that in addition to reviewing AGOA, the Administration will seek the private sector’s views for a more comprehensive U.S. initiative for Africa to be announced at the Summit with African leaders being hosted by President Obama next summer or early fall. This initiative could go far beyond trade preferences and is expected to address measures which will promote U.S. investment in African infrastructure and the expansion of African participation in corporate supply chains.

Due to the unprecedented growth of many of Africa’s national economies, opportunities for trade and investment by American companies are increasing. So is competition from European and Chinese firms. AGOA is the centerpiece of U.S. economic policy toward Africa, and duty-free imports from eligible African countries create opportunities for expanded value-chains by American companies.

I hope you will be able to attend the December 10th meeting and participate in the discussion. I am attaching links to Ambassador Froman’s letter to the International Trade Commission and the announcement of their hearing as background. Please RSVP below and for more information contact Dan O’Flaherty at doflaherty@nftc.org.

September 30th letter from USTR Froman to ITC Chairman Irving Wiliamson requesting a review of AGOA: http://www.usitc.gov/research_and_analysis/ongoing/OriginalRequestLetterstampedproperties.pdf

ITC’s announcement of hearing on AGOA: http://www.usitc.gov/secretary/fed_reg_notices/332/332_542_notice11132013sgl1.pdf