Ghana, US discuss AGOA renewal, tariffs, trade balance
They discussed the African Growth and Opportunity Act (AGOA), Ghana's local content policy, US import regulations, outstanding debts to US firms and the revival of the Trade and Investment Framework Agreement (TIFA).
Ghana's Trade, Agri-business and Industry Minister Elizabeth Ofosu-Adjare recently met senior US officials in Washington, DC, to address critical trade policy issues. They discussed the AGOA, Ghana's local content policy, US import regulations, outstanding debts to US firms and the revival of the TIFA pact. She is scheduled to meet USTR officials in the next few weeks to continue consultations.
The minister stressed the importance of AGOA—set to expire in September 2025—in attracting US investment, particularly, in Ghana's growing garment and textile industry. Enacted in 2000, AGOA offers duty-free access to over 1,800 products from eligible sub-Saharan African countries.
The high-level meeting followed protectionist measures announced under the United States' revived 'America First' trade policy.
Both sides agreed on the need for constructive engagement to balance Ghana's development goals with the expectations of foreign investors, and highlighted the importance of regulatory clarity and compliance with safety and environmental standards, a domestic news agency reported.
The minister is scheduled to meet officials of the office of the US trade representative in the next few weeks to continue consultations.
Fibre2Fashion News Desk (DS)
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