October 18, 2024

JOHANNESBURG — Minister in the Presidency Khumbudzo Ntshavheni highlighted the need for increased market access for African producers at the African Growth and Opportunity Act (AGOA) Forum on Friday.

According to South African Government News Agency, Minister Ntshavheni spoke on the necessity of widening the market reach for African goods, beyond raw materials and minerals, to include more value-added products. She addressed concerns that Africa’s current trade under AGOA is heavily weighted towards unprocessed goods, urging for a shift towards beneficiated products.

Ntshavheni drew attention to the potential of Small, Medium, and Micro Enterprises (SMMEs) that have acquired certification, affirming that products made on the African continent should be granted access to international markets, including the United States and beyond. She noted the wide array of agricultural products that could compete globally, emphasizing Africa’s readiness to supply diverse goods to the world market.

The minister echoed President Cyril Ramaphosa’s earlier request for a significant extension of the AGOA initiative, suggesting a 20-year extension to provide long-term certainty for investors and facilitate substantial investment in the African economy. This position, she explained, is supported by a broad coalition of stakeholders, including the private sector, organised labour, civil society, and women representatives.

Highlighting Africa’s growth trajectory, Ntshavheni expressed a collective determination to ensure Africa becomes a central hub for development. With a projected surge in population by 2030, she asserted that Africa is poised to be the world’s largest market for goods and services, advocating for intra-continental reliance to bolster development.

Responding to inquiries about the stability of South Africa-US relations, the minister dismissed any notions of instability. She clarified that despite vocal and expressive opinions from both nations, the economic relationship remains steadfast, citing robust trade connections that establish both countries as major trading partners within their respective regions.