Indy Standard

U.S. Senators Todd Young, James Risch, and Chris Coons have introduced the African Growth and Opportunity Act (AGOA) Renewal and Improvement Act of 2024, aiming to renew and strengthen a key trade program with sub-Saharan African countries. Young stated, “For over two decades, AGOA has strengthened economic and trade relations between the U.S. and sub-Saharan African countries. This legislation to renew AGOA will enhance the oversight and efficiency of the program and further develop the relationship between the U.S. and this growing region.”

The AGOA Renewal and Improvement Act, cosponsored by several other senators, seeks to extend AGOA until 2041. This long-term extension is expected to provide businesses with the certainty needed to increase investment in sub-Saharan Africa. Senator Risch emphasized the importance of AGOA, stating, “AGOA plays a significant role in U.S.-sub-Saharan Africa trade and investment, as well as in U.S. foreign policy. This bipartisan bill aims to refine AGOA’s eligibility criteria, increase transparency, and hold U.S. agencies accountable for their advice to the president.”

Senator Coons highlighted the positive impact of AGOA over the past 24 years, stating, “Over the past 24 years, AGOA has created jobs and economic growth in one of the fastest-growing regions of the world and created investment opportunities for American businesses.” He emphasized that the AGOA Renewal and Improvement Act is necessary to support continued economic development on the continent while further strengthening ties between the United States and partners in sub-Saharan Africa.

The AGOA Renewal and Improvement Act of 2024 aims to extend AGOA and improve the program to encourage sustainable development, regional integration, and stronger relations between the United States and countries in the region. The full text of the bill can be found here.