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SA welcomes US approval of three-year extension of African Growth and Opportunity Act

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South Africa's government has welcomed the approval of a US preferential-trade deal before a key vote in the Senate, where Pretoria has faced opposition to its continued inclusion in the pact. The House of Representatives approved the three-year extension of the African Growth and Opportunity Act, which expired in September, by 340 votes to 54 on January 12. In South Africa, AGOA has played a vital role in boosting automobile and manufactured exports, with around 22 percent of the country's exports to the US benefiting from the scheme. This trade is worth billions of dollars and is estimated to support nearly half a million jobs. Channel Africa's economics reporter, Innocent Semosa, has more.

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