Windhoek: The Southern African Customs Union (SACU) is optimistic that the African Growth and Opportunity Act (AGOA) will be extended, Finance and Social Grants Management Minister, Ericah Shafudah, has said.

According to Namibia Press Agency, during the opening of the 52nd Meeting of the SACU Council of Ministers, Shafudah highlighted the significant benefits that countries within the customs union have gained from the AGOA arrangement. The minister emphasized the advantages in market access, job creation, and revenue generation for national finances through the trade preference programme, which is set to expire in September 2025.

Shafudah conveyed confidence that the trade ministers within SACU would negotiate for a possible extension of AGOA as part of their broader bilateral engagements with the United States. She acknowledged the challenges ahead but expressed faith that the negotiations would yield positive outcomes. She assured that the council is prepared to offer any necessary policy and strategic support.

AGOA facilitates duty-free access to more than 1,800 products from 32 Sub-Saharan African countries, including Namibia, to the US market. This programme has been operational since May 2000.

Finance and trade ministers from Namibia, Botswana, Eswatini, and Lesotho are participating in the ordinary council meeting on Wednesday, which will be followed by a ministerial retreat on Thursday. The meeting was originally set to precede the ninth SACU Summit, which has now been postponed.

Shafudah, who currently chairs the SACU Council of Ministers, mentioned that the discussions would focus on trade and finance matters. The meeting will also review the commission's report, which includes a progress update on the implementation of the SACU Work Programme.