The US President Barack Obama has launched a new African economic campaign called ‘Doing Business in Africa’ as part of his administration toward Sub-Saharan Africa policy which was established in June this year.
Africa/NationalTurk- The campaign which strives to deepen trade and investment between the US and the home to six of the world’s ten fastest-growing economies will be first of its kind in history.
It was first disclosed to South African business leaders after which it was officially launched in Johannesburg on Wednesday by Acting US Commerce Secretary, Dr Rebecca Blank.
The statement which was read on behalf of President Obama highlighted important sectors in the African economy which is fast catching up with the advanced countries.
“Our challenge is to ensure these gains continue and spread, and to enable American companies and the African Diaspora to obtain the support they need to take advantage of these new trade and investment opportunities,” President Obama said in the statement.
“The economies of sub-Saharan Africa are among the world’s fastest growing, and this economic expansion—partly a result of our long-standing investment in Africa—provides an opportunity to lift millions out of poverty and foster long-term stability,” President Obama added.
President Obama also encouraged entrepreneurs and business leaders in the US to take advantage of the tremendous increase in trade and investment in Africa.
The American government has committed through the, to empowering Africans in its country with tools to trade and invest in their home continent.
American economic development leaders would also be trained by the State International Development Organisation on doing business in Africa and two-way trade missions and shows would be organized for African and American companies and business leaders.
The policy strategy Africa was officially announced on June 14 2012. The policy provides four new strategies with the aim of achieving grounded partnership with Africa and the development of the continent which include strengthening democratic institutions and spurring economic growth, trade and investment.
Issaka Adams/NationalTurk Africa Business News
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