East Africa Annual Report 2016

Speeches Shim

Economic integration is central to East Africa’s viability and strategic importance as one of the world’s fastest-growing global markets, leading to inclusive economic growth, stability and increased opportunity for the United States and its African partners. With a sustained 6.1 percent growth rate in gross domestic product (GDP), East Africa is ripe for trade and investment. USAID’s work to facilitate the movement of goods, capital and services through an integrated market, including work to improve the efficiency and transparency of cross-border transactions, the harmonization of safety and quality standards and efforts to reduce the time and cost of doing business in the region has multiple benefits. It advances the interests of the U.S. Government and U.S. businesses, provides win-win opportunities for its African partners, supports food security and contributes to resilience.

The African Growth and Opportunity Act (AGOA), recently extended for 10 years until 2025, aims to increase trade between the United States and its African partners while incentivizing market compliance and reforms. Incentives include the elimination of import levies on more than 7,000 products exported to the United States. Under the law, the president is required to make an annual determination that each AGOA beneficiary country has established, or is making continual progress toward establishing,

Issuing Country 
Date 
Wednesday, October 4, 2017 - 9:30am

Last updated: October 04, 2017