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.