The Minister of Trade, Industry and Competition (the dtic), Parks Tau
By Thabo Mosia
Pretoria – The Minister of Trade, Industry and Competition (the dtic), Parks Tau, is set to depart for the United States of America on 21 July 2024 (Today). He will be leading a South African delegation to the 21st African Growth and Opportunity Act (AGOA) Forum, which will take place in Washington, DC, from 24-26 July 2024. The delegation will include representatives from government, the private sector, civil society, and organised labour.
The theme for this year’s forum is “Beyond 2025: Reimagining AGOA for an Inclusive, Sustainable and Prosperous Tomorrow.” This forum aims to explore the future of AGOA and its impact on African economies. The event will begin with a meeting of African Trade Ministers, Civil Society/Labour Forum, and the Private Sector Forum.
This forum follows the successful hosting of the 20th AGOA Forum by South Africa in Johannesburg in November 2023. The previous forum highlighted the importance of regional value chains within the African continent, reinforcing African regional integration and stressing the need for early renewal of AGOA to ensure trade predictability.
Minister Tau emphasised the strategic importance of this visit, stating, “The United States of America is South Africa’s second-largest trading partner in the world, and this emphasises the strategic importance of the bilateral relationship between South Africa and the United States.”
The visit to the USA will provide Team South Africa an opportunity to engage with key stakeholders, including Members of Congress, the US Administration, and the US Business community. Minister Tau added, “Team South Africa will use the opportunity of the visit to discuss ways of strengthening SA-US economic relations and to advocate for early renewal of the AGOA Legislation for at least 10 years in line with the position of the African Trade Ministers.”
Furthermore, South Africa will advocate for AGOA to be complemented by an investment-led strategy to mobilise US investments into Africa’s productive sector for the mutual benefit of both parties.
The AGOA Forum rotates annually between the United States and an eligible African host. South Africa is the largest non-oil Sub-Saharan Africa exporting partner to the US. Through AGOA, South Africa has boosted both agriculture and value-added exports, creating much-needed job opportunities for South Africans.
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