President Cyril Ramaphosa has called on the United States to renew the African Growth and Opportunity Act (AGOA), warning that its expiry later this month could severely damage South Africa’s economy and undo decades of progress in US–Africa trade.

Speaking at the South Africa–US Trade and Investment Dialogue in New York, on the sidelines of the UN General Assembly, Ramaphosa described AGOA as the cornerstone of trade relations for nearly 25 years.

“In South Africa, it has supported jobs from auto assembly plants to farms to high-tech manufacturing hubs. Its expiry would not only undermine those gains but also weaken links to the Generalised System of Preferences, which have been critical to many of our exporters,” he said.

Ramaphosa appealed for support in advocating renewal, stressing that predictable, preferential access to the US market benefits both countries. He acknowledged recent trade tensions, but emphasised the need for resolution, noting that tariffs impact industries and communities on both sides.

Highlighting the scale of American investment, Ramaphosa said the US is a top source of foreign direct investment in South Africa, supporting hundreds of thousands of jobs. More than 600 American companies operate locally across various industries, including aerospace, mining, energy, consumer goods, and finance.

He also noted that South African firms have established a strong presence in the US across various sectors, including chemicals, financial services, mining, hospitality, and food products, serving as ambassadors of the country’s entrepreneurial spirit.

Looking ahead, Ramaphosa positioned South Africa as a strategic entry point into Africa’s 1.4-billion-strong market. “Our goal is simple: to sustain and expand trade flows, keep our companies competitive, and ensure that consumers and workers in both countries benefit from our partnership,” he said.