Côte d’Ivoire President Backs Sri Lankan Business in unlocking AGOA Trade

• AGOA provides duty-free treatment to goods of designated sub-Saharan African countries to U.S. market 

 President of Côte d’Ivoire Alassane Ouattara, formerly known as Ivory Coast, offers to support Sri Lanka businessmen to make use of the African Growth and Opportunity Act (AGOA).  

It provides duty-free treatment to goods of designated sub-Saharan African countries (SSAs) to the U.S. market. 

This was discussed when Sri Lankan envoy designated to that country held an impactful meeting the President of Côte d’Ivoire, at the Presidential Palace in Abidjan 26 on October 2023, marking a significant step towards enhancing the bilateral relations and fostering cooperation between Sri Lanka and Côte d’Ivoire.  

The President who graciously received the Ambassador expressed his commitment to strengthening the ties between the two countries. The President emphasized that this is a positive development in diplomatic relations between the two countries and a promising sign of strengthened ties. Ambassador Kananathan reiterated Sri Lanka’s eagerness to further engage with Côte d’Ivoire to realize the full potential of their relationship.  

At the outset , President Ouattara who is an economist and previously worked for the International Monetary Fund (IMF) expressed commendation for the swift and timely effective actions taken by President Ranil Wickremesinghe to stabilize the Sri Lankan economy. Similarly, President Ouattara mentioned to Ambassador Kananathan that he was in-charge for the Sri Lanka Portfolio at IMF, a few decades ago.   

Ambassador Kananathan and President Ouattara reviewed the current state of bilateral relations and expressed their commitment to expanding cooperation in various sectors such as; trade, and Agriculture. Both President Ouattara and Ambassador Kananathan acknowledged the potential for mutual benefit in these areas, recognizing the need to explore new avenues for collaboration and to create opportunities for their respective business communities. Key points discussed during the meeting included; Bilateral Relations, Strengthening Economic and Trade Ties and African Growth and Opportunity Act (AGOA) Trade Opportunities to support Sri Lankan Businessmen to start operations in Côte d’Ivoire.   
President Ouattara highlighted the benefits of AGOA and encouraged Ambassador Kananathan to invite Sri Lankan businessmen in the textile and Garment sectors to explore the advantages of AGOA. AGOA offers Sri Lankan entrepreneurs to set up operations in Côte d’Ivoire, an opportunity to export garments into the United States tariff-free, presenting significant potential for Sri Lankan Businesses to expand their presence in the American market.  

Côte d’Ivoire is the world’s top exporter of cocoa beans, raw cashew nuts, a net exporter of oil and with a significant manufacturing sector. Côte d’Ivoire is the largest economy in the West African Economic and Monetary Union.  

Kananathan expressed gratitude to President Ouattara and his government for the support to Sri Lanka in international forums.  
Cote d’Ivoire is also set to host the 2023 Africa Cup of Nations in Football, scheduled to take place from January 13th to February 11th, 2024, featuring participation from 24 African countries. Within a short span of time, the Sri Lankan envoy met with the Heads of State of Nigeria, Congo and Zimbabwe.    

• Ambassador Kananathan and President Ouattara reviewed the current state of bilateral relations and expressed their commitment to expanding cooperation in various sectors such as; trade, and Agriculture