South Africa Advances Trade Relations at AGOA Forum

Written on 08/01/2024
MJ Minter Inc


In a recent consolidated media briefing, the Department of Trade, Industry, and Competition (dtic) highlighted significant outcomes from the 21st African Growth and Opportunity Act (AGOA) Forum in Washington, DC, and the 14th BRICS+ Trade Ministers Meeting in Moscow, Russia. ​ The South African delegation engaged with key stakeholders to bolster trade and investment ties, focusing on economic growth and job creation. ​

At the AGOA Forum, proposals were put forth to extend AGOA, enhance rules of origin, and adjust eligibility criteria to support Africa's manufacturing capabilities and regional value chains. ​ The importance of aligning AGOA with the Africa Continental Free Trade Area (AfCFTA) was underscored, emphasizing the need for a cohesive economic structure to boost intra-African trade and integrate regional economies into the global market. ​

Deputy Minister Andrew Whitfield was praised for his adept facilitation during the AGOA host nation selection process for 2025, navigating a challenging environment to achieve a balanced outcome. ​ Meanwhile, Deputy Minister Zuko Godlimpi represented South Africa at the BRICS+ Trade Ministers Meeting, where discussions centered on climate change, e-commerce's potential for economic growth, and the role of Special Economic Zones (SEZs) in driving investment. ​

Both engagements highlighted the significance of cooperative trade relations in shaping a more equitable and sustainable global economy. ​ South Africa's commitment to transparent and strategic partnerships with global counterparts aligns with key frameworks such as the Sustainable Development Goals (SDGs) and the Paris Climate Accord, emphasizing a vision for comprehensive development and positive transformation on the continent through initiatives like the AfCFTA. ​