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- Bill for Extension of AGOA Introduced in U.S Congress
Bill for Extension of AGOA Introduced in U.S Congress
- By Williams Ekanem
- Published Tuesday 23rd 2011
- Washington File
- Unrated
A bill to extend the life span of the African Growth and Opportunity Act (AGOA) has been introduced in the United States Congress.
The Africa Investment Incentive Act of 2006 (signed by President Bush on December 20, 2006) amended portions of the AGOA referred to as “AGOA IV”. The legislation extends the third country fabric provision for an additional five years, from September 2007 until September 2012; adds an abundant supply provision; designates certain denim articles as being in abundant supply; and allows lesser developed beneficiary sub-Saharan African countries export certain textile articles under AGOA.
Tagged, H.R. 2493, the bill was introduced to extend the third country fabric programme, and for other purposes.
Sponsored by Congressman Jim McDermott (D-WA), Charles Rangel (D.NY), Congressman John Lewis (D.GA) and Hank Johnson (D.GA) , the bill is to extend AGOA by three years from 2012 to 2015.
It also is to admit Africa’s newest country, the Republic of South Sudan.
The African Growth and Opportunity Act (AGOA) was signed into law on May 18, 2000 as Title 1 of The Trade and Development Act of 2000. The Act offers tangible incentives for African countries to continue their efforts to open their economies and build free markets. President Bush signed amendments to AGOA, also known as AGOA II, into law on August 6, 2002 as Sec. 3108 of the Trade Act of 2002. AGOA II substantially expands preferential access for imports from beneficiary Sub-Saharan African countries.
By modifying certain provisions of the African Growth and Opportunity Act (AGOA), the AGOA Acceleration Act of 2004 (AGOA III, signed by President Bush on July 12, 2004) extends preferential access for imports from beneficiary Sub Saharan African countries until September 30, 2015; extends third country fabric provision for three years, from September 2004 until September 2007; and provides additional Congressional guidance to the Administration on how to administer the textile provisions of the bill.
The Africa Investment Incentive Act of 2006 (signed by President Bush on December 20, 2006) amended portions of the AGOA referred to as “AGOA IV”. The legislation extends the third country fabric provision for an additional five years, from September 2007 until September 2012; adds an abundant supply provision; designates certain denim articles as being in abundant supply; and allows lesser developed beneficiary sub-Saharan African countries export certain textile articles under AGOA.
Tagged, H.R. 2493, the bill was introduced to extend the third country fabric programme, and for other purposes.
Sponsored by Congressman Jim McDermott (D-WA), Charles Rangel (D.NY), Congressman John Lewis (D.GA) and Hank Johnson (D.GA) , the bill is to extend AGOA by three years from 2012 to 2015.
It also is to admit Africa’s newest country, the Republic of South Sudan.
The African Growth and Opportunity Act (AGOA) was signed into law on May 18, 2000 as Title 1 of The Trade and Development Act of 2000. The Act offers tangible incentives for African countries to continue their efforts to open their economies and build free markets. President Bush signed amendments to AGOA, also known as AGOA II, into law on August 6, 2002 as Sec. 3108 of the Trade Act of 2002. AGOA II substantially expands preferential access for imports from beneficiary Sub-Saharan African countries.
By modifying certain provisions of the African Growth and Opportunity Act (AGOA), the AGOA Acceleration Act of 2004 (AGOA III, signed by President Bush on July 12, 2004) extends preferential access for imports from beneficiary Sub Saharan African countries until September 30, 2015; extends third country fabric provision for three years, from September 2004 until September 2007; and provides additional Congressional guidance to the Administration on how to administer the textile provisions of the bill.
