The African Growth and Opportunity Act (AGOA) is the cornerstone of America’s trade and investment policy with Africa. AGOA has been extremely effective in expanding trade between the U.S. and Africa and creating jobs on both continents. That success is closely tied to AGOA’s Third Country Fabric (TCF) provision, which was set to expire on September 30th, 2012.
On August 2, 2012, both the House and the Senate voted to pass critical legislation that extends the Third-Country Fabric provision of AGOA while also making necessary improvements to the Central Amerian-Dominican Republic-United States Free Trade Agreement (CAFTA-DR). As a result, thousands of jobs in the United States, Africa, and Latin America - which were on the line with this legislation - will now be protected.
The TCF provision is crucial to the continued survival of Africa’s textile and apparel industry. It has not only generated hundreds of thousands of jobs in sub-Saharan Africa, but it has also helped American retailers reduce their costs, diversify their supply chains, and provide greater low-cost apparel options for American consumers.
Follow TCF Related News:
-Ambassadors Soborun and Siwela: Protect Jobs Supported by US-Africa Textile Trade
-Africa: The US Congress Must Take Action to Renew AGOA "Third Country Fabric Provision"
-Fact Sheet: Third-Country Fabric Provision Renewal