SA likely to keep AGOA status because US companies are benefitting, envoy says

📆 15/8/2566 10:45:00
📰 News24

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South Africa will likely keep its preferential access to US markets because hundreds of American firms are also benefitting, according to the nation’s ambassador to BRICS. | News24_Business

"I don’t think there is any serious threat of us losing preferential access to AGOA. AGOA is not a one-way issue, trade is not a one-way issue," Anil Sooklal said at a Bloomberg conference in Johannesburg on Monday.

South Africa has asked the US to consider an early extension of the African Growth and Opportunity Act, which expires in 2025. Tensions also spiked earlier this year when the US ambassador to South Africa, Reuben Brigety, accused it of supplying arms to Russia — an allegation Pretoria denied. South Africa, which last year exported $2.7 billion of goods using AGOA and the so-called Generalized System of Preferences, will host an AGOA summit later this year.

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