President Barack Obama on Monday signed the ten year extension of the African Growth and Opportunity Act (AGOA), legislation that has served as the cornerstone of the U.S.-Africa economic relationship and dramatically expanded U.S. trade with Africa over the past 15 years.
At the United States-Africa leaders’ Summit last year, he called on Congress to renew AGOA well before its expiration in September 2015, and it is gratifying that the signing not only extends AGOA for the longest extension in its history but also makes improvements that modernize and increase the effectiveness of the program.
Since AGOA was signed into law in 2000, it has been a catalyst for the growing partnership between Africa and the United States. At a pivotal time in the continent’s development, AGOA has provided vital economic opportunities by supporting regional integration, helping African countries become more competitive, and fostering an enabling environment for private sector investment
