AGOA: Togo pleads for 10-year extension of the program

Economic governance

Wednesday, 08 November 2023 20:17

AGOA: Togo pleads for 10-year extension of the program

(Togo First) - Several African countries want the U.S. African Growth and Opportunity Act (AGOA) adopted in 2000 to run for 10 years more. Togo is one of them. Representing her country at the 20th African Growth and Opportunity Act (AGOA) Forum, the Togolese minister of trade, Kayi Mivedor, pleaded for the extension. Held on November 2-4 in Johannesburg, South Africa, the Forum’s theme was "Partnering to Build a Resilient, Sustainable, and Inclusive AGOA to Support Economic Development, Industrialization and Quality Job Creation".

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During the forum, the Togolese minister underscored how Togo benefits from the AGOA, saying: "Access to the US market under AGOA has contributed to the development of small and medium-sized enterprises (SMEs), particularly those run by women and young people in the textile and agri-food sectors."

The Act has also “helped attract investment in industrialization programs, leading to the creation of thousands of jobs", according to the official.

Mivedor then stressed that extending the AGOA would help secure “new investors, and increase investments to support various industrialization programs”.

According to the U.S. representation at the meeting, the request for extension will be "studied thoroughly " by the US Congress.

A transformative tool for strengthening inclusive prosperity in sub-Saharan Africa, AGOA offers duty-free access to the U.S. market for over 6,800 different products.

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REFORMS OVERVIEW

STARTING A BUSINESS (more info)

At the fifteenth position, worldwide, and first in Africa, under the Starting a Business index of the 2020 Doing Business ranking, Togo sustains its reformative dynamics with more reforms….

ENFORCING CONTRACTS (more info)

Compared to some years ago when it was one of the lowest rankers under the Doing Business’ Enforcing Contracts indicator, Togo, leveraging many efforts to improve its business climate, was able to jump significantly on the index in the recent years... .

CONTRACT EXECUTION (more info)

Creation of special chambers of commerce for small debts • Creation of chambers of commerce at the Court of Appeal • Civil and commercial cases now handled by distinct clerks • Establishment of commercial courts in Lomé and Kara • Lawyers and bailiffs now have access to the FORSETI COMMERCIAL platform • A maximum period of 100 days was fixed to settle a commercial dispute .

TRADING ACROSS BORDERS (more info)

In comparison to previous years,Togo has significantly improved its ranking under the“Trading across borders” indicator by adopting multiple reforms that focus mainly on the digitization and reduction in delays, for import and export procedures related to import and export.

In comparison to previous years, Togo has significantly improved its ranking on the “Trading across borders” index by adopting multiple reforms that focus mainly on the digitalization and reduction in delays, for import and export procedures related to import and export.

CONSTRUCTION PERMIT (more info)

After moving from the 133rd to 127th place under the 2020 Doing Business’ construction permit index, Togo intends to reiterate this feat in the coming edition of the global ranking. To this end, it has introduced this year multiple reforms.

GETTING ELECTRICITY (more info)

Over the past two years, Togo’s ranking under the Doing Business’ Getting electricity and water indicator has increased consistently. Owing this performance to multiple reforms aimed at making it easier for businesses to access power and water, Lomé plans to introduce even more reforms this year to keep up its improvements.

REGISTERING A PROPERTY (more info)

Out of all the 'Doing Business’ indicators, Property Registration is where Togo has improved the most since 2018. Indeed, after spending years in the lowest part of this ranking, the country now seeks to beat Rwanda which is the best performer on this index in Africa. To do so, Lomé has been introducing many reforms, with the latest batch implemented this year.

PUBLIC PROCUREMENT (more info)

From professionalization to digitization, through legislative regulations, Togo’s public procurement framework is constantly being modernized. Several reforms have been implemented to improve the sector much to the benefit of the private sector, which is the focus of the National Development Plan.

PAYING TAXES AND DUTIES (more info)

To improve its business environment, Togo introduced some important reforms related to the payment of tax and duties. From the replacement of some taxes to the cancellation of others through exemptions, the country has only one objective: offer the most attractive tax framework to investors and economic operators. To achieve this, the authorities relied on digitization.