SA gears up for US-Africa Leaders’ Summit

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Source: sanews.gov.za

Trade and Industry Minister Rob Davies will on Monday outline South Africa’s participation in the United States-Africa Leaders’ Summit (USALS).

Minister Davies is expected to brief media on SA’s participation in the summit, its envisaged trade outcomes, South Africa’s position on the African Growth and Opportunity Act (Agoa), and trade and investment relations between South Africa and the US.

Minister Davies is expected to brief media on SA’s participation in the summit, its envisaged trade outcomes, South Africa’s position on the African Growth and Opportunity Act (Agoa), and trade and investment relations between South Africa and the US.

The briefing is scheduled to take place at the Department of Communications in Hatfield, Pretoria, at 1pm.

President Jacob Zuma is scheduled to lead a delegation to participate in the summit, which takes place from 4 – 6 August in Washington DC.

During his official visit to South Africa last year, US  President Barack Obama announced that the US will host the first ever USALS  in 2014.

Minister Davies will also participate in the Agoa Ministerial Forum, which will take place on the margins of the summit.

Agoa provides trade preferences for quota and duty-free entry into the United States for certain goods. Agoa was signed into law in 2000 and originally intended to run until 2008; however, amendments in 2004 extended the deal to 2015.

The Agoa Ministerial Forum takes place on a rotation basis between the US and the continent. In 2013, the forum took place in Ethiopia.

African governments are strongly in favour of extending Agoa, while President Obama has offered his endorsement, saying that it represents good business for both Africa and America.

On Thursday, Cabinet said the summit will take place under the theme ‘Investing in the Next Generation’.

“The summit is expected to bring US and African business executives together to discuss investment and business opportunities in Africa,” Communications Minister Faith Muthambi told media on Thursday.

In May, Minister Davies told SAnews that South Africa wants to see itself included in the rollover of Agoa beyond 2015.

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