On June 20, the House Foreign Affairs Committee will hold a hearing on renewal of the African Growth and Opportunity Act (AGOA).
Among the textile provisions of AGOA is an important one that permits the use of third country fabrics; that provision will expire in September 2012. AGOA as a whole is set to expire in 2015.
This 10-year-old trade preference program has helped promote private-sector growth in Africa by reducing U.S. barriers to African exports. Sub-Saharan Africa’s overall trade and investment environments have improved over the past decade. Extending and improving AGOA would contribute to continued increases in economic freedom for the region.
AGOA provides preferential access for beneficiaries’ exports to the U.S. from more than 30 sub-Saharan African countries by eliminating almost all tariffs on those products. Americans benefit from lower prices on a wider selection of available merchandise.
Extending AGOA would help to build confidence among all partners by strengthening and deepening democratic free market institutions (both in the government and in civil society) in Africa’s developing countries. Since the only source of genuine and lasting development is from private-sector-led economic growth through trade and investment, strong protection of property rights, and the rule of law, the U.S. Congress should extend AGOA indefinitely.
How about Free Markets? Huh? Why does everybody get a preference except American Citizens? I am sick of it! The Africans hate our guts, whether we help them or not! Oh! Sure! This is nothing to us, but by the time the preferences are all stacked together the damage to our Free Enterprise system is huge!
There are few African countries with stable democratic governments.
The AGOA is just another program that fills the pockets of bloated corrupt political regimes.
All our foreign aid programs waste at least one third to corruption, due to disgraceful oversight and neglect!
I don't beleive it should be extended unless each portion of funds is given with restriction to a single project!
In this economic climate we can't afford or tolerate any waste at all!