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Joint statement between the USA and AU on AfCFTA

The aim is to strengthen the trade and economic activities. (Image source: Hessel Visser/Pixabay)

Deputy United States trade representative C.J. Mahoney and African Union Commission commissioner for trade and industry Albert Muchanga have signed a joint statement concerning trade between the USA and the African Union at the opening ceremony of the 2019 African Growth and Opportunity Act (AGOA) Forum

The USA and the African Union share a common goal of enhancing the African Union's efforts to increase continental trade and investment under the African Continental Free Trade Area (AfCFTA).

The USA and the African Union share a mutual desire and common goal to deepen dialogue and cooperation on trade and investment matters and to increase trade and investment between the USA and Africa.

The USA recognises the African Union's expression of interest to work closely together to identify ways the USA can cooperate on the development of the AfCFTA. The USA recognises that one of the African Union's principal aims is to promote sustainable development as well as the integration of African economies.

The USA and the African Union intend to work together with respect to the AfCFTA to promote a sound trade policy environment, regional economies of scale, and the increased flow of goods and services on the continent in order to increase continental trade and investment, as well as trade and investment between the USA and Africa.

The USA and the African Union intend to jointly identify subject areas related to the ongoing negotiation and implementation of the AfCFTA as subjects for cooperation and for possible technical assistance and capacity building.

The USA and the African Union intend to work together to develop activities that support these priority objectives.

The USA and the African Union share a mutual desire to pursue deeper trade and investment ties beyond the African Growth and Opportunity Act, which is scheduled to expire in 2025, eventually leading to a continental trade partnership between the USA and Africa that supports regional integration.

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