• The collaboration recognizes that the African Growth and Opportunity Act (AGOA) has been the centerpiece of U.S. trade with Sub-Saharan Africa.
• CBC will leverage this agreement to continue promoting exports to the US.
• Through this MOU we strengthen the relationship to facilitate closer collaboration.

Common Market for Eastern and Southern Africa (COMESA) Business Council (CBC) says partnership towards forging new pathways for stronger US-Africa engagements with Corporate Council on Africa (CCA) is an opportunity to transform the region’s economic landscape.

In a statement issued to Money FM News, CBC Chief Executive Officer Sandra Uwera said this will be through strengthening business linkages and facilitation of market access to broader value chains, more so for women entrepreneurs, who are fundamental key drivers of sustainable economic growth and inclusive prosperity.

Ms. Uwera noted the collaboration recognizes that the African Growth and Opportunity Act (AGOA) has been the centerpiece of U.S. trade with Sub-Saharan Africa, which provides for preferential treatment of exports from Africa in the form of duty-free and largely quota-free access to US markets.

She highlighted that CBC will leverage this agreement to continue promoting exports to the US, as well as attract investments to Africa particularly to tap into the benefits of Africa Continental Free Trade Area (AfCFTA) in helping stimulate economic growth.

“This partnership is a real opportunity to transform the region’s economic landscape, through strengthening business linkages and facilitation of market access to broader value chains, more so for women entrepreneurs, who are fundamental key drivers of sustainable economic growth and inclusive prosperity,” said Ms. Sandra Uwera.

COMESA Business Council Chairman, Marday Venkatasamy, stated that, “Today marks a major milestone in our US-Africa Business collaboration and partnership.”

Mr. Venkatasamy, said through this MOU we strengthen the relationship to facilitate closer collaboration, joint advancement of the private sector business agenda, and provide a platform for consolidating the voice of the Private Sector.”

Expounding on the significance of the partnership, President and CEO of the Corporate Council on Africa (CCA) Ms. Florie Liser, said, “With the COMESA Business Council (CBC) being one of CCA’s oldest and longest standing partners, we welcome this MOU and look forward to collaborating to support greater U.S.-COMESA trade and investment and stronger ties amongst our businesses.”