Bill 118 hr 10366, also known as the African Growth and Opportunity Act (AGOA) reauthorization bill, is a piece of legislation that aims to extend the AGOA program. AGOA was originally enacted in 2000 and provides trade preferences to eligible sub-Saharan African countries. These preferences include duty-free access to the US market for certain goods, with the goal of promoting economic development and integration in the region.
The reauthorization bill seeks to extend AGOA for an additional 10 years, ensuring that the program continues to support economic growth and development in sub-Saharan Africa. The bill also includes provisions to strengthen the eligibility criteria for countries participating in AGOA, as well as measures to enhance trade capacity building and promote regional integration.
Overall, the reauthorization of AGOA is seen as a positive step towards fostering economic development and trade in sub-Saharan Africa. By extending the program and implementing measures to strengthen its impact, the bill aims to support the growth of African economies and promote stability in the region.