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OECD Says Author of African Growth and Opportunity Act
Inspired Comprehensive Research and Publications on African Countries
WASHINGTON - Congressman Charles Rangel today was honored in Washington by the Organization for Economic Co-operation and Development (OECD) for his work in promoting U.S. trade with Africa.
The honor was bestowed during a press conference launching the 2007 edition of the African Economic Outlook, a comprehensive manual of economic data and analysis on countries in Africa. Published by the OECD Development Center in Paris, in cooperation with the African Development Bank, the document is a valuable research tool for government policy makers, academicians and the private sector.
Crediting the Congressman with inspiring the group's comprehensive studies on African development, Louka Katseli, director of the Paris-based OECD Development Center, said in a prepared statement, "You did not ask for our help. But you inspired us to produce two short documents as a modest contribution to your efforts" to pass the African Growth and Opportunity Act (AGOA) which for the first time would establish a U.S. trade policy with Africa.
"It was in preparing these documents [in the late 1990's] that our staff discovered the remarkable paucity of useful economic data on most of Africa. That discovery inspired the Development Center to launch a process that led to the creation of the African Economic Outlook," Mr. Katseli said.
AGOA, which was enacted into law in 2000, liberalized access to U.S. markets for eligible Sub-Saharan countries in Africa by reducing to zero U.S. import duties on many products from the region. Reauthorized bi-annually since then, the AGOA has reduced entry barriers for $44.2 billion of the $59 billion total African imports to the U.S., according to African Economic Outlook figures. Total trade between the U.S. and the more than 40 Sub-Saharan countries eligible for AGOA treatment more than tripled between 1990 and 2005, from $17 billion to nearly $60 billon.
"I am humbled by the OECD's recognition, but more than that, I am grateful for the work they are doing in providing valuable information about what's happening on the ground in Africa," said Congressman Rangel who, as chairman of the House Committee on Ways and Means, is an important leader in shaping the nation's trade policy.
"By focusing on economic and social developments on the African continent, The Outlook provides a roadmap for how Africa can grow and develop and participate as a player in the global economy," Congressman Rangel said.
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