White House Supports One-Year Extension of Africa Trade Pact
The White House has expressed its support for a one-year extension of the African Growth and Opportunity Act (AGOA), a key trade pact with Africa. This move comes as the agreement is set to expire at the end of the current month. The AGOA, which has been in place for over two decades, aims to promote economic development and trade between the United States and eligible African countries. It provides duty-free access to the U.S. market for a wide range of products from participating African nations. The White House's endorsement of the one-year extension signals a continuation of the trade relationship between the U.S. and Africa, providing stability and continuity for businesses and economies involved in the pact. This decision is seen as a positive step in maintaining economic ties and fostering further cooperation between the two regions.
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