Central Louisiana News

U.S. Senators Bill Cassidy, Tim Scott, Chris Coons, and their colleagues have written a letter to Senate Majority Leader Chuck Schumer and Senate Minority Leader Mitch McConnell, calling for the timely consideration of the renewal process for the African Growth and Opportunity Act (AGOA). The senators emphasized the importance of extending AGOA to provide certainty for American small businesses, counteract the growing influence of China and Russia in Africa, and promote stability in Sub-Saharan Africa.

AGOA is considered to be the foundation of the United States' economic relationship with Sub-Saharan Africa. By lowering trade costs and encouraging investment in the region, AGOA creates valuable opportunities for U.S. businesses, workers, and consumers. It has facilitated over $9 billion in exports from 35 countries in Sub-Saharan Africa, promoting sustainable economic growth and development.

The senators highlighted the role of AGOA in countering the influence of China, Russia, and other foreign actors seeking to advance repressive models of governance. They also emphasized the need for Congress to act soon to extend the program, as uncertainty about AGOA's renewal is already leading some businesses to reduce their sourcing in the region. By providing businesses with long-term certainty, Congress can help diversify and secure supply chains.

AGOA has eligibility requirements that countries must meet to benefit from its provisions, including establishing a market-based economy, protecting the rule of law and human rights, and combatting corruption. The program also requires beneficiary countries to not engage in activities that undermine U.S. national security or foreign policy interests. By implementing AGOA effectively, the United States can counter the malign influence of China, Russia, and other foreign actors.

African leaders and American businesses are calling for the extension of AGOA, urging Congress to work expeditiously to extend the program into the next decade. While there are aspects of AGOA that Congress should seek to improve, the priority should be renewing the program as soon as possible and for a lengthy period. Renewing AGOA will reinforce the economic gains achieved so far and unlock new opportunities to strengthen the partnership between the United States and Sub-Saharan Africa.

As the legislative calendar is considered for the months ahead, the senators strongly urge the reauthorization of AGOA as an important priority. The extension of AGOA will not only combat the influence of China and Russia in Africa but also provide certainty for U.S. businesses and promote stability in the region.

Click this link to access more information: https://www.cassidy.senate.gov/newsroom/press-releases/cassidy-joins-call-to-renew-agoa-to-combat-chinese-and-russian-influence-in-africa-provide-certainty-for-us-businesses