US eyes greater sub-Saharan Africa trade
A delegation of 14 US transportation, energy equipment and services and agricultural equipment companies were headed to Africa’s shores in pursuit of multisector trade discussions from June 18 to 26.
Led for the first time by US Secretary of Transportation Anthony Foxx, who would be accompanied by Assistant Secretary of Commerce for Global Markets Arun Kumar, the delegation would seek out opportunities in Mozambique, South Africa and Kenya.
“This trade mission represents our commitment to connecting US companies to opportunities on the continent and will lead to business growth for both US companies and their local partners,” Foxx said of the trip that would introduce the US firms to the world’s second-fastest growing region.
The trade mission was in line with US President Barack Obama’s $7-billion ‘Doing Business in Africa’ campaign that sought to increase US exports of products and services to the region and ensure the products, services and technological expertise on offer assisted the three markets to gain a greater foothold in various critical industry sectors.
This emerged after US exports to sub-Saharan Africa reached a record $25.4-billion in 2014 following a 6% uptick.
Further, Kumar believed the economic growth of the region, which was forecast at 4.5% in 2015, outpacing the global average, would drive demand for US exports and “ultimately” boost US job creation efforts.
The participating companies were Cashman Equipment, Eberhart Capital, Fluor, First Solar Development, General Electric, Hightowers Petroleum, Honeywell International, Kanawha Scales and Systems, Progress Rail Services, RDO Equipment, Scimitar Global Markets, Teras Cargo Transport, United Laboratories and Yegg.
The companies were expected to gain market insight, establish industry contacts, solidify business strategies and advance specific projects – all with the goal of increasing US exports of products and services to the region.
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