President Cyril Ramaphosa has emphasised that Africa is not only benefitting from the African Growth and Opportunity Act (AGOA) but is also contributing to the partnership in meaningful ways.
President Ramaphosa was responding to a question from Democratic Alliance (DA) Chief Whip, George Michalakis on the possibility of South Africa being removed from AGOA at the National Assembly, on Tuesday.
Speaking on the ongoing trade initiative, President Ramaphosa highlighted South Africa’s role as both a recipient and a valuable contributor to the trade relationship with the United States.
“There is going to be a review of the AGOA process. And last year, we held the African and US AGOA Forum here in our own country, and we were able, together with many other African countries, to demonstrate that we do derive value from AGOA, but we also give value.
“We export, but we also import from the United States. So, it is a two-way process, as it is with many other countries around the world. As it is now, we continue, not only in anticipation of an AGOA initiative, but we continue to expand our export market for a variety of goods around the world,” the President said.
The AGOA, a free trade opportunity that was inaugurated under President George W. Bush, has been in effect for years, offering African countries preferential access to the U.S. market.
While some nations have had their participation in the program withdrawn, President Ramaphosa stressed that Africa’s participation is not simply a matter of benefitting from the U.S. but of fostering a balanced and reciprocal relationship.
He also pointed out that several countries on the continent were offered the chance to participate, but some have had their participation revoked. As a result, those countries have had to explore ways to enhance their exports.
“Participation in AGOA is not at our behest. It is at the behest of the United States and what we seek to do, and have done so for many years, is to demonstrate that we are a good trading partner to the United States and indeed to many other countries around the world, and that we do adhere to rules and regulations that are put in place to enable our participation in trade agreements, whether they are bilateral or multilateral,” the President said.
Reflecting on his conversations with President Donald Trump, President Ramaphosa recalled highlighting the balanced nature of the trade relationship.
“When I spoke to President Trump, when he was president elect, congratulating him, I informed him that we value participating in AGOA, but I also informed him that we also sell critical minerals to the United States, and the relationship is fairly balanced.
“So many workers benefit from our AGOA participation, but at the same time, many other American workers also benefit from what we sell to AGOA, so it is balanced, and we want to see that balance, and the mutual benefit carrying on into the future,” the President said.
The country’s number one emphasised that government is working towards creating more market opportunities for South Africa.
“As we visit various countries, we do actively promote our own country so as to ensure that our reliance on various markets becomes a multiplicity of engagements.
“In a few days, the Deputy President [Paul Mashatile] will be going to Japan, and he will take with him a number of deputy ministers and ministers, and what they will be seeking to do, is to open up more market space for South African goods in the East, and we will be doing so as well in a number of other visits in the Middle East and the East,” the President said.
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The President further highlighted that the country wants to sell more to China, which is now South Africa’s biggest trading partner, noting that leaders in the Middle East are also expressing interest in purchasing more South African goods.
“President Xi Jinping has been saying to us, we want to buy more goods from South Africa, and indeed, various other leaders in the Middle East have been saying precisely that, but we want to continue trading with the United States, because we sell minerals, we sell vehicles, we sell agricultural products to them.
“So, we do not take the opportunity that we have, as it is called Africa growth opportunity initiative, we don’t take that opportunity lightly, but at the same time, we want to also demonstrate that, yes, we have value to add,” President Ramaphosa asserted.
Read the original article on SAnews.gov.za.
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