Improving U.S.-Africa Business Relations

Oct 2nd, 2009 12:17 PM UTC
By Mikiko Imai

The Corporate Council for Africa (CCA), a forum aimed at strengthening and facilitating the commercial relationship between the U.S. and the African continent, hosted its 7th biennial U.S.-Business Summit this week. Many African political and business leaders, including President Kikwete of Tanzania and President Kaberuka of the African Development Bank, gathered in Washington, DC for this important meeting. According to the head of CCA, Stephen Hayes, “the African continent continues to show potential as a leading foreign direct investment destination for American businesses, despite the economic downturn nations around the globe are currently experiencing.”

Yesterday, U.S. Secretary Hillary Clinton gave her remarks on how the Obama Administration sees Africa. She said that she “remains convinced that no place holds the opportunities of the future like Africa does. But that doesn’t mean that we can just expect it to happen. We have to work together.” So how does the Administration plan to work with African countries so that they can create the right conditions to spur economic development and improve the lives of African people? She said that the Administration is focussing on five key areas: trade, development, energy security, public-private partnerships, and good governance. She also emphasised the importance of food security in the continent, and the Administration’s high level commitment towards this agenda. It was a powerful speech, with the underlying message that Africa is important to the U.S. because the future of Africa matters to the U.S.’ own progress and prosperity.

Here’s the speech:

TAGS: ONE, Policy News