SA and US go into AGOA summit amid tensions over foreign policy, wars in Europe and Middle East
OPINION: The Agoa summit could not have come at a more awkward time for South Africa and the US. It will come amid the Palestinian-Israeli war that has divided global opinion. South Africa and the US are on opposing sides once again, writes Dr Sizo Nkala.
On September 9, the AU was made a permanent member of the Group of 20 (G20). SA is an original member of the group, though its influence has not been effective in achieving the country’s and the continent’s objectives. Africa’s membership will enable SA to bundle its objectives with the rest of the continent. In this way, the urgency of African challenges will be appreciated and addressed.
Today, the United States Government, through the U.S. Agency for International Development-funded West Africa Trade & Investment Hub (“Trade Hub”) hosted a workshop on “Leveraging Private Sector Engagement to Promote Sustainable Impact”. The two-day event highlights the Trade Hub’s efforts to expand trade and investment opportunities and improve livelihoods and communities in West Africa.
United States and Africa: increased engagement regarding trade creating opportunities in the African free trade area. It was also announced at the Summit that US intended to invest USD 55 billion in Africa over the next three years.
The US and Kenya announced a trade and investment partnership in July 2022. Talks have been progressing on the way forward in nine areas, including agriculture, anti-corruption, digital trade, environment and climate change action, and workers’ rights and protections.
African economies should seize the opportunity to better integrate into technology-intensive global supply chains and boost prosperity, but this depends on their ability to harness key market and investment trends, the UN’s trade and development body UNCTAD said on Wednesday.