African Growth and Opportunity Act
African Growth and Opportunity Act: AGOA. Part of the United States Trade and Development Act of 2000, valid until 30 September 2008. The Act is based on a congressional finding that it is in the mutual interest of the United States and the countries of sub-Saharan Africa to promote stable and sustainable economic growth and development in sub-Saharan Africa. It gives sub-Saharan countries duty-free access to the United States for most products. It also promotes the negotiation of free-trade agreements between products. It also promotes the negotiation of free-trade agreements between the United States and sub-Saharan countries. Countries must meet certain eligibility requirements to benefit from this Act. Among these are that the country (a) has established, or is making progress towards, a market-based economy, (b) enjoys the rule of law and political pluralism, (c) is eliminating barriers to United States trade and investment, (d) has economic policies to reduce poverty, (e) has a system to combat corruption and bribery and (f) protects internationally recognized workers rights. Activities undermining United States national security or foreign policy interests and engaging in gross human rights violations or international terrorism make a country ineligible for the benefits of this Act.
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
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