Africa Has The Key To The Survival Of The World - Biden

The President of the United States, Joe Biden has hinged survival of the world on the growth and prosperity of the African continent, even as he threw his weight behind the continuity of the African Growth and Opportunity Act (AGOA). 

Africa Today News, New York reports that AGOA is an initiative that provides duty-free access to the U.S. market for most agricultural and manufactured products exported by eligible African countries. Biden, in a White House statement, yesterday, said he “strongly supports re-authorisation of the African Growth and Opportunity Act, a landmark, bipartisan law that has formed bedrock for U.S. trade with sub-Saharan Africa for more than two decades”.

He committed his government to expeditiously working with Congress and African partners to renew the law beyond 2025 to deepen trade relations between the countries.

According to him, the move will also “advance regional integration and realise Africa’s immense economic potential for our mutual benefit. In so many ways, Africa is the future; and so when Africa succeeds, the whole world succeeds”.

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The U.S. President urged ‘Congress to re-authorise AGOA in a timely fashion and modernise this important Act for economic opportunities of the coming decade’.

He said: ‘AGOA is facilitating private-sector led economic growth across sub-Saharan Africa by increasing the competitiveness of African products, diversifying African exports, and enabling the creation of tens of thousands of new, quality jobs in Africa.
‘The benefits are felt on both sides of the Atlantic: AGOA fosters a more competitive environment for U.S. businesses operating in sub-Saharan Africa.’

Meanwhile, U.S. agencies: the Millennium Challenge Corporation (MCC) and the U.S. African Development Foundation (USADF) have partnered to empower women entrepreneurs in Africa.

MCC Chief Executive Officer, Mrs Alice Albright, in a statement in Washington DC, said the partners signed a Memorandum of Understanding (MoU) to drive the growth of successful women entrepreneurs and Women-led Small and Medium Enterprises (W-SMEs) in Africa.
Africa Today News, New York

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