On 24th July 2024, the Kenya Private Sector Alliance (KEPSA), represented by Chair Dr. Jas Bedi and Deputy Chief Executive Officer, Mr. Victor Ogalo, joined other leaders at the 2024 African Growth and Opportunity Act (AGOA) Private Sector Forum at the Africa Centre, USA.  The forum was hosted by the United States Institute of Peace (USIP), the Corporate Council on Africa (CCA), and the U.S. Department of Commerce. It explored opportunities aimed at enhancing U.S.-Africa trade and investment partnerships.

Notable leaders present were the U.S. Secretary of State Antony J. Blinken, U.S. Trade Representative Ambassador Katherine Tai, Acting President and CEO of USIP Ambassador George Moose, President and CEO of CCA Ms Florizelle (Florie) Liser, and the Commissioner for Economic Development, Tourism, Trade and Mining at the African Union H.E. Albert Muchanga.

With AGOA set to expire in 2025, participants of the forum explored the crucial role it has played and could play going forward if reauthorized in enhancing the U.S. and African economic development goals and investment partnerships.

The changing trade and investment landscapes both in the U.S. and Africa, require re-thinking strategies “beyond AGOA” targeted at building stronger partnerships in areas like trade capacity, and technological advancements. In a Fireside Chat moderated by Ms. Liser, KEPSA Chair Dr. Bedi emphasized the importance of realizing the shift going on in the market and called on decision-makers to focus on the demand in today’s market while considering future outlooks. He gave an example of the cotton industry where there has been a shift from cotton to polyester fiber, hence locking out African countries. "Demographics are changing, the market is changing, the consumption patterns are changing, and we can now see a lot more functionality in the technological advancements of polyester fiber. We shouldn’t be in a wait-and-see environment as investors. AGOA should be predictable and renewed now to reassure investments," said Jas.

Trade associations play an increasingly important role in bringing companies together to focus on the most important developments in U.S.-African trade and investment relations, including the importance of renewing AGOA. Participating virtually in a panel discussion dubbed "The View from Trade Associations and PAC-DBIA" Mr. Ogalo talked about AGOA being remodeled to match the current and the future emerging global and African economies. He recommended that the next step for AGOA should be to re-examine the objectives set 24 years ago and rate how they’ve been met. "What we would really want to do as a trade association is to look at the last 24 years, and examine the gains, against AGOA’s objectives. We want AGOA remodeled to walk with us on a path of being a globally competitive region,” He further commented on the need for Africa to be treated as an equal partner, "AGOA should be remodeled after 24 years, following the last four renewals, to align with the realities of the changing global business and technological environment. AGOA is not just about preferential trade treatments but overall about the development of Africa. In that light, Africa ought not to be seen as a continent to be saved but a continent to partner with, including within the framework of the African Continental Free Trade Area."

The forum comes during a pivotal time in U.S.-Africa trade policy development, including as Congress considers AGOA reauthorization. The 2024 AGOA Private Sector Forum also provided critical input for official ministerial meetings taking place as part of the broader AGOA proceedings in Washington, D.C., scheduled for July 25-26.

For a recap of the event watch here