350,000 Jobs Created Through US’ African Growth and Opportunity Act, Entrepreneurs Benefit
How much can a U.S. law help sub-Saharan African countries build their economies and develop open markets?
Just ask Witney Schneidman, the Brookings Institution’s African affairs specialist, about the effects of the African Growth and Opportunity Act (AGOA).
“What we’ve found is that AGOA’s responsible for the creation of about 350,000 direct jobs for Africa and another million or so indirect jobs,” Schneidman said.
Schneidman recently visited Ethiopia, where he met young entrepreneurs, government officials and major business leaders interested in learning more about AGOA.
“Ethiopia currently is benefitting in the apparel, footwear and horticulture areas” under AGOA, Schneidman said.
Approved by Congress in 2000, AGOA provides trade preferences for most goods exported to the U.S. from sub-Saharan African countries. Light manufacturing exports to the U.S., such as apparel and textiles, thrive under AGOA.