By Desmond Davies
London, Oct. 15, GNA – Cote d’Ivoire is emerging as one of West Africa’s most resilient and dynamic economies, buoyed by robust growth, deepening trade relations with the US and new efforts to capitalise on the benefits of the African Growth and Opportunity Act (AGOA).
According to the US State Department’s 2025 Investment Climate Statement, Cote d’Ivoire has maintained robust macroeconomic performance despite global challenges, driven by sound fiscal management, effective policy reforms and a diversifying economy.
The report describes the country as a “resilient and dynamic economic leader” in the region, underpinned by low inflation, sustained growth and steady poverty reduction.
Growth continues to be fuelled by private consumption, public and foreign investment and expanding sectors such as agriculture, energy, extractives and infrastructure.
The Ivorian government’s forthcoming 2025-2030 National Development Plan is expected to further speed up industrialisation and education reforms to address structural issues such as high informal employment and youth underemployment.
“Cote d’Ivoire remains an attractive investment destination, and its medium-term prospects are positive,” the State Department report noted, emphasising the government’s ongoing commitment to business-friendly reforms and macroeconomic stability.
The report highlights a notable expansion in US – Ivorian economic relations, with trade and investment flows rising steadily.
In 2024, total US trade in goods and services with Cote d’Ivoire reached $1.9 billion, marking a 12.3 per cent increase from 2023.
US exports grew by 16.2 per cent year-on-year to $591.2 million, driven by machinery, chemical products and agricultural equipment.
US investments have particularly surged in digital infrastructure and agribusiness, alongside a growing focus on sustainable energy and logistics development.
In addition to private sector activity, the US government maintains a substantial development finance footprint.
In the 2023 financial year, Washington provided $240 million in foreign assistance to Cote d’Ivoire, much of it directed toward governance, infrastructure and economic growth programmes.
Last month, the Millennium Challenge Corporation (MCC) – an independent US foreign aid agency – marked two milestones in its partnership with the country.
They comprise successful completion of a $536 million transport and workforce development compact and the signing of a new $300 million regional energy compact aimed at expanding reliable and affordable electricity supply across West Africa through Cote d’Ivoire’s regional energy hub.
The US and Cote d’Ivoire Chambers of Commerce also renewed their Memorandum of Understanding in 2025 to strengthen commercial dialogue, promote SME growth and reduce regulatory barriers.
While the US–Ivorian trade relationship is deepening, Cote d’Ivoire’s use of the African Growth and Opportunity Act (AGOA) – a US trade initiative offering duty-free access to thousands of products from eligible sub-Saharan African countries – remains underexploited.
AGOA has been under scrutiny since Donald Trump came to power.
The trade deal expired on September 30, but the Trump administration is working on a one-year extension.
Meanwhile, American legislators are looking at a new arrangement that would not affect African exports to the US.
A recent report by the Carnegie Endowment for International Peace revealed that from 2002 to 2025, only 3.7 per cent of Ivorian exports to the US took advantage pf AGOA preferences.
The bulk of exports – mainly cocoa, cashew nuts, rubber, petroleum and wood products –already enjoy duty-free entry under other US trade programme, leaving significant room for diversification.
Despite these gaps, Cote d’Ivoire has shown progress, particularly in expanding agro-processing and value-added exports.
The Carnegie report noted that AGOA offered strong potential for the textiles, apparel and processed agricultural sectors, if institutional capacity and awareness among exporters improved.
“Cote d’Ivoire is Africa’s largest agricultural exporter to the United States, yet the country’s use of AGOA remains limited,” said the study’s co-author and Ivorian trade expert, Gérard Amangoua.
“With the right strategy, it could become a model for trade-led industrialisation.”
The report identified key obstacles: the absence of a current AGOA strategy, weak coordination between public and private actors and insufficient knowledge of AGOA’s provisions among small and medium-sized enterprises.
To unlock AGOA’s full potential, experts recommend that Cote d’Ivoire revitalise its national trade strategy, strengthen export institutions and invest in trade logistics and capacity building.
Expanding partnerships with US importers, leveraging diaspora business networks and ensuring compliance with US product standards are also seen as crucial steps toward market expansion.
Such reforms would not only fit in with AGOA, but also boost value-added exports, create jobs and reinforce Cote d’Ivoire’s position as a regional manufacturing and export hub, the report argued.
Both the US State Department and Carnegie Endowment agree on one point: Cote d’Ivoire’s economic momentum and growing integration with the US market could deliver substantial long-term benefits, if supported by continued reform and strategic investment.
Even as uncertainty surrounds AGOA’s reauthorisation beyond 2025, experts say the foundations for a stronger bilateral trade relationship are already in place.
“With its expanding infrastructure, policy reforms and deepening ties with American investors, Cote d’Ivoire is poised to strengthen its reputation as a gateway for US investment and trade in West Africa,” an Ivorian official said.
GNA
Edited by Beatrice Asamani Savage