U.S. shifting to ‘investment-led’ strategy in Africa- Senior official
U.S. trade with Africa ‘will be much more focused around a reciprocal relationship, one that addresses the needs on both sides,’ says ambassador Troy Fitrell.
Ambassador Troy Fitrell, senior official at the U.S. State Department’s Bureau of African Affairs, said that Washington is “very directly, very intentionally” shifting toward an “investment-led” strategy in Africa.
“The future of the U.S. trade with Africa “will be much more focused around a reciprocal relationship, one that addresses the needs on both sides,” Fitrell said at an online news conference.
He said trade reflects an “exchange between equals” in an activity, unlike the assistance-led paradigm that the U.S. had in the past, which involved “a donor and a recipient, instead of having it being negotiated with equals.”
Fitrell said he tasked ambassadors to “go out and find” commercial opportunities to advocate for US companies, identify opportunities, push for market reforms to enhance the business environment and engage host governments on those issues.
He said as the U.S’ African Growth and Opportunity Act (AGOA) marches to its end date, “it is our Congress who has the responsibility to revise, renew, or re-establish it.”
The envoy added that “if there’s going to be a renewal of AGOA, it will probably reflect the modern world rather than the one from 25 years ago when it was first founded.”
AGOA is a special law enacted in the year 2000 that grants duty-free access to nearly 40 sub-Saharan African nations to US markets.(AA/NAN)(www.nannews.ng)
(Edited by Mark Longyen)
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