
Zambia has taken over the Africa Growth and Opportunities Act (AGOA) Forum for the next one year following an African Ministerial Consultative Group meeting held in Washington DC. This is according to a statement released to Lusakatimes by First Secretary for Press at the Zambian Embassy in the United States of America Ben Kangwa.
The Forum is an annual event mandated by the African Growth and Opportunity Act, which was signed into law by former President Bill Clinton in May 2000 to expand trade and investment with the sub- Saharan Africa.
It allows eligible countries’ officials to review the implementation of AGOA, as well as exploring new ways for the future in order to enhance and strengthen trade integration and make smooth commerce activities between the United States and sub-Saharan Africa.
The out –going Chairperson of Kenya, the Minister of Trade Hon. Amos Muhinga Kimunya passed over the Chairmanship to Zambia’s Minister of Commerce, Trade and Industry, Hon. Felix Mutati, pledging unflinching support and cooperation for a successful tenure.[pullquote]Africa is no longer the same as before – It is a continent that is rich in natural resources and has a highly cost effective labour base. Let us kill this negative myth for it to develop[/pullquote]
Speaking at the Ministerial opening ceremony on behalf of the Ministerial Consultative Group, Hon. Mutati reiterated the importance of AGOA in promoting trade and economic development in Sub Saharan Africa.
He stated that Africa is a continent with significant potential for the US market and offers greater financial returns more so that it was seeing its strongest economic growth since the late 1970s.
“Africa is no longer the same as before – It is a continent that is rich in natural resources and has a highly cost effective labour base. Let us kill this negative myth for it to develop,” he said amid a loud applause.
Minister Mutati also said that Africa had shown greatest improvement and taken the biggest steps in reducing corruption in 38 countries, introduced business reforms as well as stabilized exchange rates over the past decade.
He emphasized the need that AGOA should be viewed as a partnership- between the US and Sub Saharan Africa in order to promote trade and development.
Later the Minister took part in a plenary session along his equivalent – US Trade Representative, Ambassador Ron Kirk in a discussion entitled “New Strategies for Expanding US Sub Saharan African Trade.”
The session explored new strategies to reduce trade barriers, creation of new trade opportunities and the strengthening of US-African trade within the context of the changing global trading environment.
Hon. Mutati and his delegation which included Zambia’s Ambassador to the United States of America, Mrs. Sheila Siwela held two bilateral meetings, first with Ambassador Kirk and officials from the United States Trade Representative’s (USTR) and later with Ambassador Johnnie Carson, the Assistant Secretary, Bureau of African Affairs at the US Department of State.
Meanwhile, Zambia’s Ambassador and Plenipotentiary to the United States of America, Mrs. Sheila Siwela said this year’s AGOA Forum offers a great platform for the Zambian delegation to engage with American decision makers and their private sector in developing productive business networks based on mutual understanding.
“It will be a great opportune time to enhance personal business contacts between Zambia and the USA in order to try and jump start trade and investment between the two countries,” she added.