Mara-Andreea Tudor
Mara-Andreea Tudor
Student at the Bucharest University of Academic Studies, the Faculty of International Economic Relations; amateur chess player, passionate about finance and geopolitics
The African Union Opportunity Act (AGOA): A Review of Trade Controversies and Opportunities

The African Union Opportunity Act (AGOA): A Review of Trade Controversies and Opportunities

The African Growth and Opportunity Act (AGOA) is a unilateral agreement commissioned by the US, with the purpose of increasing the volume of trade between the United States and Sub-Saharan Africa. The objective of such an act is to encourage trade between the United States and qualifying Sub-Saharan economies by reducing tariffs and quotas for certain goods exported from Africa to the US. African countries, however, need to meet certain qualifications. The trade agreement enables the US President to designate countries as eligible based on the following criteria: “market-based economies; the rule of law and political pluralism; elimination of barriers to US trade and investment; protection of intellectual property; efforts to combat corruption; policies to reduce poverty, increasing availability of healthcare and educational opportunities; protection of human and worker rights; elimination of child labor practices” (U.S. Trade and Development Act, 2000). Since its adoption in 2000 under the Bush Administration, AGOA has been the centerpiece of U.S.-African trade relations (Paéz et al, 2010, p.1). Around the same time as the adoption of AGOA, the Chinese government inaugurated a “strategic partnership” with 44 African governments during the Forum on China-African Cooperation (FOCAC). According to the American Chamber of Foreign Affairs, the Chinese administration has promised to increase its imports to a total of $300 billion exclusively from Sub-Saharan Africa by 2024. More



The Market For Ideas Association

The Romanian-American Foundation for the Promotion of Education and Culture (RAFPEC)

Amfiteatru Economic