The Corporate Council on Africa (CCA), in partnership with the U.S. Department of Commerce, announced today it will act as U.S. private sector coordinator for the 8th Annual African Growth and Opportunity Act (AGOA) Private Sector Forum at the Kenyatta International Conference Center in Nairobi, Kenya from August 3-6, 2009. The theme for this year's forum is "Realizing the Full Potential of AGOA through Expansion of Trade and Investment."
Since its inception in 2001, CCA has been an active supporter of AGOA at all levels, from leading AGOA Forum steering committee meetings to partnering with the State Department in its AGOA Professional Development Program. CCA has played a central role on the American side in every AGOA Forum. In March 2009, CCA released and issued a report from the American Private sector to the Obama Administration on future U.S. policy toward Africa. The recommendations included strategies to expand AGOA to include additional product coverage, and provide infrastructure support to beneficiaries to improve capacity and to produce a broader array of AGOA–eligible products.
U.S. total trade with Sub-Saharan Africa (exports plus imports) increased 28 percent in 2008, as both exports and imports grew. Since 2001, under AGOA, U.S. imports increased to $66.3 billion. In the last few years, over 98 percent of African exports to the U.S. entered duty-free, either under AGOA or other related U.S.-Africa trade initiatives.
This year's AGOA Private Sector Forum will consist of a one-day conference, a four-day trade exhibition and numerous opportunities to meet with high-level U.S. and African government officials. Private Sector Forum workshop sessions will cover a range of topics, including agribusiness, textiles and apparel, improved trade measures, market access, fisheries, and climate change. General Electric will organize the workshop on climate change and renewable energy.
The ministerial-level discussions will be held on August 5-6, and the private sector and civil society groups will hold related events on August 4. On Tuesday, August 4, CCA will co-host a luncheon sponsored by SEACOM, during which SEACOM will launch its maritime broadband cable.
The Minority Business Development Agency (MBDA) will organize a Business2Business training seminar in Nairobi on Saturday, August 8, and will participate in the AGOA Forum Trade Exhibition.
The Kenya Association of Manufacturers (KAM) is taking the overall lead on organizing this year's Private Sector Forum.
The African Growth and Opportunity Act (AGOA) was signed into law by the U.S. on May 18, 2000 as Title 1 of The Trade and Development Act of 2000. The Act offers tangible incentives for African countries to continue their efforts to open their economies and build free markets. Participation in AGOA requires that beneficiary countries commit themselves to the establishment of a market-based economy, the rule of law and policies to reduce poverty.
For more information on the 8th annual AGOA forum visit www.africacncl.org .
About The Corporate Council on Africa
Established in 1993, The Corporate Council on Africa is a nonpartisan 501 (c) (3) membership organization of nearly 180 U.S. companies dedicated to strengthening the commercial relationship between the U.S. and Africa. CCA members represent nearly 85 percent of total U.S. private sector investments in Africa. The organization is dedicated to bringing together potential business partners and to showcase business opportunities on the continent. From September 29-October 1, 2009, CCA convenes the U.S.-Africa Business Summit, the premier private sector trade and investment forum between the U.S. and the nations of Africa. For more information, visit www.africacncl.org
CONTACT: Andrea Todd, (202) 263-3538,atodd@africacncl.org
