Obama Pushes More African Trade During Export Council Meeting
The U.S. government and trade community is failing to sufficiently infiltrate emerging markets globally, particularly on the African continent, said President Barack Obama during remarks at a June 19 Export Council meeting. The African Leaders Summit, slated for August, will…
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be a critical opportunity for the Obama administration and industry representatives to push market access opportunities, said Obama. “Some of these economies are doing very, very well, but we’re not penetrating those markets as well as we should,” said Obama, noting 6 out of the 10 fast growing economies worldwide are on the African continent. “That’s really what that continent is interested in. They’re not interested in aid as much as they are trade, development, and partnering with the private sector.” U.S. industry has been eyeing the summit as a forum to address improvements to the African Growth and Opportunity (AGOA) (see 14040402). Those that utilize AGOA say Congress must pass renewal legislation by the end of 2014 to maintain supply chains, in light of the AGOA's 2015 expiration.