5 November 2023 – NAACAM members are showcasing their locally manufactured auto component capabilities at the African Growth and Opportunity Act (AGOA) “Made in Africa” exhibition and conference being held at Nasrec Expo Centre until this Saturday.
AGOA is a pivotal agreement between the US and Africa to support and help grow African industries and markets. Total SA exports to the US under AGOA were $9.4-billion in 2022, up 57% from $6-billion in 2021 – with motor vehicles being the top non-energy US import category at $1.5-billion (Standard Bank).
In a panel discussion, NAACAM executive director Renai Moothilal, said there are cross-border linkage opportunities in industries such as the wire harness, auto glass and tyre sectors. “Initiatives like AGOA and the African Continental Free Trade Area (AfCFTA) are key in facilitating these linkages. The SA auto component sector is a major contributor to the economy and its growth is inextricably linked to the industrialisation of the African continent.”
He said SA has the potential to be a production hub for automotive component exports into other AGOA member states and to further grow exports into the US. “There is also a window of opportunity to unlock new opportunities, especially as the country looks into the transition to NEV production,” he said. #WeAreNAACAM
