[Congressional Record (Bound Edition), Volume 150 (2004), Part 11]
[Senate]
[Pages 14372-14373]
[From the U.S. Government Publishing Office, www.gpo.gov]




              PASSAGE OF THE AGOA ACCELERATION ACT OF 2004

  Mr. GRASSLEY. Mr. President, I rise today to praise the Senate for 
the passage of the African Growth and Opportunity Acceleration Act of 
2004 which was completed before we adjourned for the Fourth of July 
recess. The House of Representatives passed the legislation on June 14, 
2004, and it was imperative the Senate quickly follow suit.
  The passage of AGOA is great news for Africa. Since AGOA was first 
enacted in 2000, investment in Africa is

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up, and trade from Africa is up. Because of the Africa Growth and 
Opportunity Act, many African families can now feed their children. For 
the first time there is a new sense of hope in many countries. Many 
provisions of the Africa Growth and Opportunity Act were set to expire 
this year. This created an environment of uncertainty, which as leading 
to investment flight and lost opportunities. Passage of this bill will 
help people in Africa reap the full benefits of the program.
  It is encouraging that this bill received such strong bipartisan 
support in the House and Senate. Trade can be a powerful tool of 
growth, and I am pleased that the majority of my colleagues share this 
view.
  Although passage of this bill is a great step forward, there is still 
a lot of work to be done. For example, the United States is currently 
negotiating a free trade agreement with members of the Southern African 
Customs Union. This will include the nations of South Africa, Botswana, 
Lesotho, Swaziland, and Namibia. Completion of this agreement will help 
foster trade and investment in the region, which could lead to a new 
period of sustained economic growth.
  For trade to work, it has to be two-way street. Foreign aid and 
preference programs are always a short-term answer. For long-term 
growth, Africans must work hand-in-hand with the United States to open 
markets both in Africa and around the world. History proves that the 
most economically advanced nations are those that embrace free trade 
and free markets. Too often, unduly high tariff barriers in developing 
countries hinder the trade and investment that is so vital to economic 
growth. I want to help create a climate of sustained prosperity in 
Africa, so we can eliminate poverty and provide hope for a better 
future. Passage of this bill is a good first step. I hope we can 
continue our work with the African people to help advance both our 
economies and build toward a brighter, more prosperous future.
  I would now like to take a minute and thank my staff who helped bring 
this legislation into realization. First and foremost is my staff 
director and chief counsel, Kolan Davis, for his leadership and 
loyalty. I would like to thank Everrett Eissenstat, my chief 
international trade counsel, for his hard work as well as that of the 
rest of my trade team, including Stephen Schaefer, David Johanson, Zach 
Paulsen and Dan Shepherdson. I must not forget to mention Carrie 
Clark--now Carrie Clark-Philips--who competently covered this issue for 
me before leaving the Committee. And finally, I want to thank the 
ranking member on the Finance Committee, Senator Baucus, and his able 
trade staff of Tim Punke, Brian Pomper, Shara Aranoff, Sara Andrews, 
John Gilliland and Pascal Niedermann, for the work they did in getting 
this bill compelted.
  I look forward to seeing the President sign this legislation into law 
quickly, so we can continue to work with the African nations in 
furthering economic progress. I thank the Senate for the bipartisan 
nature extended in the passage of this important legislation.

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