AGOA Renewal and Improvement Act of 2024

This bill extends the African Growth and Opportunity Act (AGOA) through 2041, maintaining duty-free access to U.S. markets for eligible sub-Saharan African countries. It introduces biennial reviews of beneficiary countries' compliance with eligibility requirements related to governance, human rights, and trade practices. The bill creates a new category for countries that have ratified the African Continental Free Trade Agreement (AfCFTA) and establishes a process for "graduating" countries that become high-income economies for five consecutive years. Additionally, it requires beneficiary countries to develop biennial strategies to better utilize AGOA benefits and mandates reports on forced labor enforcement and potential trade agreements with sub-Saharan African nations.