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Blog Category: Sub-Saharan Africa

Exporting to Africa: The Success of the DBIA Campaign

President Obama and Senegal President Sall at press conference. Photo by White House, Pete Souza.

President Obama believes sub-Saharan Africa could be the world’s next major economic success story. That is why in June 2012, he issued the U.S. Strategy Toward Sub-Saharan Africa (PDF) to escalate the U.S. efforts to stimulate economic growth, trade, and investment in the region. One year later, the President is in Africa to highlight our success under this strategy.

A key component of the President’s strategy is the Doing Business in Africa (DBIA) Campaign, which was launched by the U.S. Department of Commerce in Johannesburg, South Africa last November. Its main objective is to bolster federal trade promotion and financing capabilities in order to help U.S. businesses obtain trade and investment opportunities. With these opportunities, the United States’ commercial relationship with Africa will continue to grow.  

Since its unveiling, Commerce has been working alongside other federal agencies to encourage U.S. companies–with a focus on small- and medium- sized businesses and African Diaspora-owned business–to trade and invest in the region. A little more than six months into the Doing Business in Africa Campaign, we wanted to share some of successes with you.

Acting Secretary Blank Launches Doing Business in Africa Campaign

Map of Africa with text "Doing Business in Africa"

Acting U.S. Commerce Secretary Rebecca Blank today announced the launch of the “Doing Business in Africa” campaign at an event in Johannesburg, South Africa. This campaign is part of a larger U.S. Strategy Toward Sub-Saharan Africa, which President Obama issued in June. The “Doing Business in Africa” campaign will promote economic growth, trade and investment in Africa.  In her remarks, the Acting Secretary emphasized the United States’ ongoing commitment to deepening economic ties with these nations. She also shared a message from President Obama (PDF) in support of the campaign.

The United States is pursuing four objectives in Sub-Saharan Africa: strengthening democratic institutions; spurring economic growth, trade and investment; advancing peace and security; and promoting opportunity and development. The new Doing Business in Africa campaign is a key part of this effort. It leverages the federal government’s strengths as assets in trade promotion, financing, and more. Goals of the campaign include helping U.S. businesses identify and seize opportunities in Africa, and helping them overcome any challenges they face to establishing business relationships with Africa.

Also as part of her trip to South Africa, Dr. Blank met with a multi-sector trade mission led by the Department of Commerce’s Under Secretary for International Trade, Francisco Sánchez. This delegation is comprised of representatives from 13 U.S. firms who were traveling to Lusaka, Zambia; and Johannesburg and Cape Town, South Africa.

Sub-Saharan Africa presents enormous opportunities to the American private sector. According to the World Bank, its GDP totaled approximately $1.25 trillion in 2011, and six of the 10 fastest-growing economies in the world are in Sub-Saharan Africa. U.S. total merchandise exports to Sub-Saharan Africa tripled between 2001 and 2011.

Growth and Opportunities in Sub-Saharan Africa

Logo: African Growth and Opportunity Act (AGOA)

Crossposted from ITA's blog, Tradeology.

Guest blog post by Nicole Y. Lamb-Hale is the Assistant Secretary for Manufacturing and Services within the International Trade Administration

This week I am participating in the 11th Annual U.S.-Sub-Saharan Trade and Economic Forum, hosted this year in Washington, D.C. The event is mandated by the African Growth and Opportunity Act (AGOA) and is the U.S. Government’s premier high-level, bilateral event with Sub-Saharan Africa. This year’s theme is “Enhancing Africa’s Infrastructure for Trade.”

The AGOA Forum brings together over 600 participants, including senior U.S. and African officials, as well as U.S. and African members of the private sector and civil society.

I am honored to be co-chairing a session with Humberto Brito, Minister of Tourism, Industry and Energy, Cape Verde focused on ways to create an attractive regulatory environment to attract renewable energy investment.

Sub-Saharan Africa is a continent of opportunities for U.S. businesses with overall projected growth rates of approximately six percent in 2012–some of the highest in the world. In looking at the world’s ten fastest growing economies from 2001-2010, six were in Africa. This trend accelerates in 2011-2015 with seven of the ten world’s fastest growing economies being in Africa. In the World Bank’s Doing Business 2012: Doing Business in a More Transparent Worldan impressive 36 out of 46 economies in Sub-Saharan Africa improved business regulations this year–a record number since 2005. Of the economies that improved the most in the ease of doing business in 2010/2011, with improvements in three or more areas of regulation measured by Doing Business, four of the twelve are Sub-Saharan African countries.