For Immediate Release: July 30, 2013
Contact: Mara Lee (202) 482-3809
Senior Obama Official Leads Discussion on Trade and Investment with Africa
Under Secretary of Commerce Francisco Sánchez Highlights Doing Business in Africa Campaign
WASHINGTON – Under Secretary of Commerce for International Trade Francisco Sánchez provided an update on the U.S. Commerce Department-led Doing Business in Africa (DBIA) Campaign during remarks at a DBIA Forum at the U.S. Chamber of Commerce today.
The DBIA Campaign is spearheaded by the Commerce Department’s International Trade Administration (ITA). It reflects an unprecedented whole-of-government approach to increase the level of U.S. trade promotion to the region, address market barriers, and expand the availability of trade financing.
“You are here today because you realize that if you want to expand your businesses overseas, Africa is a key destination,” Sánchez said to Forum participants. “The Commerce Department launched the DBIA Campaign to better promote the opportunities of trade and investment with Africa – and help U.S. companies seize them to increase exports and create American jobs.”
The Forum included panel discussions with representatives from U.S. businesses that have successfully entered the African trade market to share their insights and best practices. In addition, government representatives gave an overview of resources to help companies take advantage of opportunities in the infrastructure and power sectors, including the Power Africa initiative President Obama recently launched. Discussions also highlighted the administration’s overall goals for the U.S.-Africa relationship and the uniqueness of the DBIA Campaign.
During the past eight months, ITA has partnered with American companies, especially small and medium-sized enterprises, to explore trade and investment opportunities in the African market. To that end, ITA has hosted more than 32 delegations with 750 buyers from sub-Saharan Africa at International Buyer Program shows, which connect companies to potential trade partners in Africa. Future trade missions are planned to help bring companies eager to invest in the Region to sub-Saharan Africa.
Sub-Saharan Africa is one of the fastest-growing regions on the globe and is home to seven of the 10 most rapidly growing markets in the world. Sub-Saharan Africa economic growth is expected be more than 5.6 percent in 2013, and as much as 6.1 percent in 2014. U.S. trade with Africa has tripled during the past decade. The United States exported nearly $23 billion in goods and services to the region last year.
To learn more about the DBIA Campaign, please visit http://export.gov/africa.
International Trade Administration
The International Trade Administration (ITA) is the premier resource for American companies competing in the global marketplace. ITA has 2,400 employees assisting U.S. exporters in more than 100 U.S. cities and 70 countries worldwide. For more information on ITA visit www.trade.gov.
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