GAO Says Reciprocal Trade Pacts With Africa Still Far Off
Law360, New York (August 6, 2015, 1:29 PM EDT) -- The U.S. Government Accountability Office reported Wednesday that the U.S. faces a long road in transitioning its economic relationship with Africa from one based on one-way preferential trade programs to truly reciprocal free trade agreements.
A recent renewal of the African Growth and Opportunity Act, which grants duty-free treatment to imports from the continent, has spurred optimism for deeper economic engagement in the region. But based on negotiations between sub-Saharan Africa, SSA, and other world powers, the watchdog office said that crafting meaningful accords will require a heavy lift from all parties.
Negotiations between the European Union and various African blocs...
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