Newscast Media HOUSTON—The planned opening of new U.S. trade offices in four
African countries demonstrates the U.S. commitment to supporting Africa’s developing
economies, a top U.S. trade official says.
“As a new member of the Department of Commerce team, I’m very excited to be a
part of this major expansion,” U.S. Assistant Secretary of Commerce for Global
Markets Arun Kumar said in an April 28 Commerce Department blog post.
U.S. Secretary of Commerce Penny Pritzker announced the expansion of trade offices
on April 17. She said that, in 2014, the Commerce Department’s International Trade
Administration will open offices in Angola, Ethiopia, Mozambique and Tanzania, in
cooperation with the U.S. Department of State. These four new offices, in addition to
one to be opened in Burma, will bring the knowledge and experience of U.S. trade
specialists into some of the world’s most rapidly developing economies.
Sub-Saharan Africa is one of the fastest-growing economic regions in the world,
Kumar pointed out in his blog post, adding that the International Monetary Fund
predicts continued growth throughout the continent, as part of a broad continental
“Our new offices will support White House initiatives like Trade Africa and Power
Africa, which have spearheaded a larger campaign to bolster development throughout
the continent,” Kumar said.
Trade Africa is a partnership between the United States and sub-Saharan Africa,
launched by President Obama in July 2013, that seeks to increase internal and
regional trade within Africa and expand trade and economic ties between Africa, the
United States and other global markets. Power Africa is an initiative President Obama
announced in June 2013 that aims to double access to power in sub-Saharan Africa.
“As U.S. companies look to ship goods to Africa, help increase electrical capacity, or
help improve transportation networks, they will receive unparalleled assistance and
expertise from our staff,” Kumar said. “With our new offices on the continent, we will
be able to find partners for American companies, help navigate regulatory hurdles,
and support the development that will make Africa thrive.”
As this expansion takes place, Kumar said, “these markets are where we will truly see
the mutual benefits of trade.” U.S. companies “will bring the infrastructure and ideas
that improve quality of life for citizens and they will support the partnerships that
spur innovation among local businesses,” he said.
The expansion announcement “is just the start,” Kumar said, adding, “I’m very excited
to see how this expansion will help support existing partnerships, create new
opportunities, and bring about the kind of development that is only possible through
global trade.” http://newscastmedia.com/trade-africa.html
Newscast Media WASHINGTON—U.S. Commerce Secretary Penny Pritzker announced September 12 that businesses, investors and government entities from more than 60 countries will participate in the SelectUSA 2013 Investment Summit October 31–November 1 in Washington.
Every region of the world will be represented at this first-of-its-kind event, the Commerce Department said in a news release.
The two-day event will connect investors with local, state and regional economic development organizations.
“We are delighted that more than 60 countries will be represented at the SelectUSA Summit in Washington, D.C., where they will have the opportunity to learn why the United States is the premier investment location,” Pritzker said.
“This broad interest in the summit is a testament to the interest of companies, investors and government entities in doing businesses here in America. We’re planning a very productive agenda for summit participants to discuss investment opportunities, network and learn about the U.S. investment climate and available resources.”
The Department of Commerce recently announced that four members of President Obama’s Cabinet will be participating: Secretary of Commerce Pritzker, Secretary of State John Kerry, Secretary of the Treasury Jack Lew and U.S. Trade Representative Michael Froman. Also in the speaker lineup are the chief executive officers of BlackRock, Bloomberg L.P., Caterpillar Inc., Dow Chemical Company, Siemens Corporation and Wal-Mart U.S.
To date, economic development organizations in 42 states plus the District of Columbia and Puerto Rico will be participating in the summit. As an integral part of the summit, they will be prepared to discuss their investment attraction strategies with potential investors.
“Foreign investment in the United States is a win for American jobs and a win for those who invest here,” said Secretary Kerry. “We offer the world’s best infrastructure and the world’s leading workforce to investors who want access to the world’s most attractive and stable market for high-quality goods and services.”