african growth and opportunity act

Nations like Liberia have much to gain, as high-level officials from the United States and 37 Sub-Saharan African countries gather in Lusaka, Zambia, for the June 9-10 African Growth and Opportunity Act (AGOA) Forum.  Not only is Liberia eligible for AGOA trade preferences, allowing it to export a host of agricultural products to the United States duty-free, but it could receive more than $87 million in U.S. assistance in fiscal year 2011 to strengthen economic growth, which includes its agricultural sector. U.S. trade capacity building and technical assistance places Liberia in a better position than most to take advantage of AGOA trade preferences.

One of the most interesting aspects of my job is meeting interesting people from all parts of the world. Last week I only had to travel as far as Kansas City to meet nearly two dozen African ministers of trade, commerce, and agriculture for a visit to the Kansas City Board of Trade as part of the African Growth and Opportunity Act Forum.

As agriculture plays a key role in African development, governments have a crucial role to play in ensuring a favorable market climate for their farmers and agricultural products. The ministers learned about the Board of Trade’s day-to-day exchange operations, where hard red winter wheat is bought and sold in the futures market. We took a tour of the trading floor to see traders in action and also met with researchers at some of America’s premier land grant universities to learn how they provide farmers and USDA with valuable research and new technologies.

Last week I was in Kansas City to participate in the 9^th African Growth and Opportunity Act (AGOA) forum. AGOA seeks to strengthen the trade relationship between the United States and Africa by reducing tariffs on thousands of African products and providing technical assistance to boost African exports while stimulating economic growth and investment.  Each year, the AGOA forum alternates between Washington, D.C. and an African country host.  To celebrate AGOA’s tenth year, we decided to do something new, hosting the first half of the forum in Washington, DC and the second portion in Kansas City.