TRALAC - Trade Law Centre

COMESA: AGOA-US exports swell to $17 billion

Monday, 08 February 2016 Published: | Natasha Kana

Source: Times of Zambia

Common Market for Eastern and Southern Africa (COMESA) exports to America under the African Growth Opportunity Act (AGOA) has amounted to US$17 billion.

The exports through the COMESA eligible countries amounted to $17.3 billion by November 2015.

COMESA secretary general Sindiso Ngwenya said the United States-COMESA Trade and Investments Framework Agreement (TIFA) provides a more in depth copperation which could collaborate for mutally beneficial results.

He was speaking during the 8th US-COMESA trade and investment council consultative meeting at Pamodzi hotel in Lusaka yesterday.

"The US-COMESA trade and investment provides a more in-depth cooperation framework with in which our strategic partnership can collaborate for more mutually beneficial results," he said.

Mr Ngwenya observed that with over 10,000 tariff lines admissible under AGOA, only 316 were excluded.

He said the African coalition on trade reports that AGOA related investment had resulted in the creation of 300,000 jobs in Sub-Saharan Africa.

US Ambassador to Zambia Eric Schultz urged member countries to take advantage of the AGOA extension and trade more with the US.

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