The United States Government has extended a trade preference program in Africa through AGOA (African Growth and Opportunity Act). AGOA, signed into law in 2000, provides duty-free, quota-free entry to the U.S. for goods from AGOA-eligible countries. In 2015, AGOA was extended for an additional ten years, until 2025. AGOA has helped bolster economic growth by providing new market opportunities, promoting economic and political reform, and improving U.S. economic relations in Sub-Saharan Africa.
VentureLift Africa partnered with the U.S. Government's Prosper Africa initiative to increase two-way trade and investment between African countries and the United States. VentureLift Africa’s mandate was to implement the AGOA advisory training objectives of the Continental Services – Trade Preferences Support program. This project mobilizes a network of AGOA advisors to support buyer-seller linkages and provide on-demand information on AGOA policies.
The advisors provide the following assistance:- Guidance on how AGOA works
- Consultation on AGOA requirements
- Consultation on completion of AGOA documentation
The advisors can also provide referrals on trade finance, logistics, market access, buyers and supplier engagement, trade insurance and eCommerce sales.