The Government of the Democratic Republic of Congo (DRC) Adopts a National Strategy to Promote Exports to the United States Under the AGOA Program.
The government of the Democratic Republic of Congo (DRC) has just adopted a national strategy aimed at promoting exports to the United States under the African Growth and Opportunity Act (AGOA).
According to Julien Paluku, Congolese Minister of External Trade, this strategy adopted in the Council of Ministers allows for the identification of key products on which Kinshasa can rely to fully exploit the opportunities offered by AGOA.
Twenty-six sectors are covered by this strategy: 21 non-mining sectors (including coffee, cocoa, palm oil, and pineapple) and five mining sectors (copper, diamonds, gold, cobalt, and the 3Ts: cassiterite, wolframite, and coltan).
"Experts from the private sector, as well as those from sectoral ministries in collaboration with USAID, participated in the development of this national strategy, which also defines the economic policies to be implemented to support the private sector in its quest to conquer the American market," said Paluku, adding that the goal is to increase the volume of trade between the DRC and the United States from 600 million dollars in 2011 to 3 to 5 billion dollars per year by 2025-2030.
"The time has come to work towards preparing for the AGOA meeting in Washington following the adoption of the AGOA-DRC strategy by the Council of Ministers on Friday, July 12, 2024," Julien Paluku further specified.
Additionally, the strategy includes initiatives to improve the business environment in the DRC, addressing issues such as infrastructure development, regulatory reforms, and capacity building for local businesses. This holistic approach aims to create a conducive environment for sustainable economic growth and to attract foreign investment, thereby enhancing the competitiveness of Congolese products in the international market. The government is also planning to set up monitoring and evaluation mechanisms to track the progress and impact of this strategy, ensuring that the objectives are met and any necessary adjustments are made in a timely manner.