The study, entitled “Unlocking the Potential of the African Growth and Opportunity Act (AGOA),” examines the potential for Somalia to become a member of the AGOA program. It identifies the economic benefits that could result from this preferential trade agreement. The document delineates Somalia’s present trade status with the United States, the prerequisites for AGOA eligibility, and the obstacles the country encounters in capitalizing on this opportunity. The document underscores the necessity for enhanced trade infrastructure, regulatory frameworks, and investment in pivotal export sectors such as agriculture and light manufacturing to optimize the advantages of AGOA.
Furthermore, the study presents a cost-benefit analysis of Somalia’s designation as an AGOA beneficiary country, identifying the key export products and sectors that could flourish under the agreement. It also discusses case studies of other East African nations that have successfully utilized AGOA, providing insights into effective strategies and potential challenges. Overall, this study serves as a comprehensive guide for policymakers to navigate the complexities of AGOA and its implications for Somalia’s economic growth.
For details, please download the full study by clicking the link below.
