[quote

author=Billyonaire]
When
President Clinton signed the African Growth and Opportunity Act into
law in 2000, he ushered in a new era of relations between the U.S. and
the countries of Sub-Saharan Africa.

As a result of AGOA, the U.S. engagement on the continent is no longer
solely predicated on a donor-recipient relationship, but increasingly
one of mutual benefit and gain. Under AGOA, the U.S. became the first
country to use trade as a stimulus for economic development and in doing
so laid the groundwork for genuine win-win partnerships.

Twelve years later, AGOA continues to be the cornerstone of U.S.-African
relations. Forty countries in Sub-Saharan Africa are eligible for AGOA
benefits, and 6 of these countries are among the world’s 10 fastest
growing economies.

Between 2000 and 2011, AGOA exports from Africa to the U.S. have
increased over 500 percent to $53.8 billion. This has resulted in the
creation of more than an estimated 300,000 new jobs in Africa, and
another 1.5 million indirect jobs that, together, benefit approximately
10 million people. This non-reciprocal trade initiative has contributed
to improved political and economic governance in Africa while also being
one of the most cost-effective development initiatives the U.S. has
undertaken.

At the same time, both the U.S. and African governments have to redouble
their efforts to ensure that AGOA’s potential is being fully utilized.
While the number of countries exporting non-energy products to the U.S.
has doubled over the last ten years, only about 10 percent of AGOA’s
6400 product lines are being utilized.

AGOA is set to expire in 2015 but Secretary of State Hillary Clinton and
U.S. Trade Representative Ron Kirk have committed the Obama
Administration to a “seamless extension” of the legislation. Most
immediately, Congress needs to extend the third country fabric
provision, now scheduled to expire on September 30, which enables
apparel to enter the US on a cost-competitive basis.

Legislative certainty is one reason that AGOA should be extended for 10
years, until 2025. Not only would this provide the groundwork for a
deeper commercial relationship with African nations but it would help
American companies become more competitive in the region. In fact, it is
beginning to happen. U.S. exports to Africa were up 20 percent between
2010 and 2011 to $21.2 billion. According to the U.S. Department of
Commerce, this has supported or created more than 100,000 jobs in the
U.S.

With the emergence of Africa’s middle class, similar in size to that of
India’s, there is a new commercial vibrancy across the continent, as
noted recently by the McKinsey Global Institute. India, Brazil, Turkey
and, of course, China have intensified their commercial relationships
with many countries on the continent, providing Africa with a
proliferation of commercial partners. At the same time, the Obama
Administration’s push to double exports under the National Export
Initiative suggests that the African market will increase in importance
to the U.S.

AGOA, therefore, is a critical building block for deeper trade and
investment ties between the U.S. and Africa. The challenge for all
stakeholders is to move forward expeditiously not only to deepen the
commercial ties but to do so in a way that generates sustainable and
mutual benefits.

Witney Schneidman is a nonresident fellow at the Africa Growth
Initiative at the Brookings Institution and president of Schneidman
& Associates International. He also served as Deputy Assistant
Secretary of State for African affairs in the Clinton Administration.
http://www.clintonfoundation.org/main/clinton-foundation-blog.html/2012/07/12/agoa-and-the-emerging-african-market/[/quote]

stop deceiving us Nigeria only they grow in corruption

ambrosini593:


www.vanguardngr.com/2012/07/group-to-declare-state-of-biafra-nov-5/

what then hapens the Igbos in the north dat dont know there way back home?