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“We regret this outcome and hope it is temporary,” said Deputy United States Trade Representative C.J. Mahoney. “But if the AGOA eligibility criteria are to have any meaning, they have to be enforced—particularly where, as here, other AGOA members took action in order remain in compliance.  The President’s action today is measured and proportional.  It suspends AGOA benefits for a class of imports that totaled $1.5 million in 2017, which accounts for approximately only 3% of Rwanda’s total exports to the United States.  Rwanda remains eligible to receive non-apparel benefits available under AGOA, and the President’s action does not affect the vast majority of Rwanda’s exports to the United States.  We look forward to working with Rwanda to resolve this issue so that benefits in the apparel sector may be restored.”

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When Congress first passed AGOA in 2000, it imposed certain eligibility criteria to encourage recipient countries to adopt free market-oriented development models and to ensure fair market access for United States firms.  The AGOA eligibility requirements include: “making continual progress toward establishing . . . a market-based economy . . . [and] the elimination of barriers to United States trade and investment.”  19 U.S.C. 3703(1)(A),(C).  The United States Trade Representative (USTR) is charged with enforcing AGOA’s requirements.

An AGOA issue relating to new barriers to United States trade and investment first arose in 2015 when the East African Community (EAC) established a plan to ban imports of used clothing and footwear.  The USTR’s engagement on this issue intensified in 2016 when the EAC announced it would phase in the ban by 2019.  Thereafter, three EAC AGOA beneficiaries—Kenya, Tanzania, and Uganda—worked with the United States and took actions to revise their policies.  As a result, they continue to receive full benefits under AGOA.  Unfortunately, Rwanda has insisted on keeping in place a policy that has raised tariffs on imports of used apparel and footwear by more than one thousand percent, effectively banning imports of these products.

United States efforts over the past two years to address this issue with the Government of Rwanda have been unsuccessful.  As a result, on March 29, 2018, the President determined that Rwanda was not making sufficient progress toward the elimination of barriers to United States trade and investment and was, therefore, out of compliance with AGOA’s eligibility requirements.  The President informed the Government of Rwanda of his decision in March, giving Rwanda an additional 60 days to engage with the United States to resolve this problem before the suspension of its apparel benefits under AGOA.  Rwanda has, however, continued to insist on retaining its tariffs.  The President, therefore, has decided to suspend Rwanda’s duty-free access to the United States for apparel products until Rwanda comes back into compliance with AGOA’s eligibility requirements.

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The President believes suspension of AGOA’s benefits, instead of termination of Rwanda’s status as an AGOA beneficiary, is the appropriate remedy in this instance.  The Administration supports continued engagement with the aim of restoring market access for used apparel and bringing Rwanda into compliance with AGOA’s eligibility requirements.  The President can reinstate full AGOA benefits for Rwanda once he has determined that Rwanda is meeting the eligibility criteria laid out by Congress.

The post Trump Upholds African Growth and Opportunity Act Trade Preference Eligibility Criteria with Rwanda first appeared on MegaIcon Magazine.

The post Trump Upholds African Growth and Opportunity Act Trade Preference Eligibility Criteria with Rwanda appeared first on MegaIcon Magazine.

In a packed room at the headquarters of global law firm Shearman and Sterling LLC  high level business leaders and international diplomats invited by the Corporate Council for Africa to hear Africa’s richest man, Aliko Dangote, and Rwandan president Paul Kagame openly converse on Africa’s opportunities and challenges.

Both leaders underscored the ongoing movement to diversify African economies. In the case of  Nigeria, Africa’s largest economy, Dangote stated “we should pray that oil prices remain low. This helps wean us off the dependency on revenues from petroleum. We must take oil to be the icing on the cake. We already have the cake,” he added.

In addition to agriculture Dangote cited Nigeria’s vast mineral resources and gas as well and the need to manufacture more goods locally for domestic consumption. Both he and President Kagame cited continued need for heavy investments in education and connected the need for young people to be well trained for the jobs of tomorrow.

Dangote predicted that “five of the twelve million jobs needed in Africa soon must be created in Nigeria.”

We should pray that oil prices remain low. This helps wean us off the dependency on revenues from petroleum.

Dangote’s fortune which stems from cement, sugar, and other household commodities has expanded into fertilizer and other processed high-value goods. “Technology of course helps us a lot and our factories are state of the art with the use of robotics but we shouldn’t be overly tech oriented to create wealth,” he told investors.

Mr. Dangote who is often cited as one of the most inspiring business leaders in the world today and a model for young entrepreneurs offered advice to Americans who tend to rely on outdated news and wrong perceptions of Africa, “Don’t be lazy. Go there and find the real story for yourself. Things have changed.”

Dangote noted the Rwanda success story where he has business interests as an example of positive change, good governance and leadership, and where corruption has been cured. He cited a personal experience of offering a $100 US tip for services at the Kigali Airport to staff who refused to take money for work they were paid to do. President Kagame was praised for delivering the environment for growth he promised. “There is nothing African about corruption,” the Rwandan president added.

The session was moderated by Rosa Whitaker, former US Trade Representative and author of the AGOA (African Growth Opportunity Act), whose business consultancy is credited for helping both African governments and US companies develop commerce

The post Africa will become the food basket of the world, Dangote boasts at UN General Assembly first appeared on MegaIcon Magazine.

The post Africa will become the food basket of the world, Dangote boasts at UN General Assembly appeared first on MegaIcon Magazine.