Over the past decade, U.S. trade with sub-Saharan Africa has nearly doubled. Last year, U.S. exports to the region topped $24 billion. According to the International Monetary Fund, the region is home to seven of the 10 fastest-growing economies.
As the second-fastest growing region in the world, the sub-Sahara is outpacing global average growth largely due to its growing middle class and purchasing power. There are also improvements in governance, technology and infrastructure.
Georgia businesses are well-positioned to take advantage of these opportunities. The “Doing Business in Africa” campaign, a key element of President Barack Obama’s National Export Initiative, is an unprecedented government approach to deepen U.S. commercial engagement in sub-Saharan Africa, address market barriers and expand the availability of trade financing.
Over the past year through the Africa business campaign, the Commerce Department has provided specialized nationwide training for our trade counselors, brought hundreds of prospective African buyers to U.S. trade shows, and hosted outreach opportunities across the country.
Most recently, several U.S. government agencies collaborated to launch the U.S.-Africa Clean Energy Development and Finance Center in Johannesburg, South Africa. It helps the region’s energy developers implement clean energy projects and promotes U.S. private-sector participation in area economic development.
Georgia merchandise exports to sub-Saharan Africa have grown by 91 percent since 2009, to $861 million in 2013. Diversified export sales range from transportation equipment and food manufacturing to machinery, paper products and much more. Georgia businesses continue to seek new opportunities.
Mayor Kasim Reed’s planned trade mission to Nigeria and South Africa has helped put the African continent at the forefront of the city’s international agenda. His trip coincides with Africa Atlanta 2014, a year-long, citywide series of events that highlight Atlanta as a nexus for the renewal of cultural and economic bonds.
The Commerce Department’s International Trade Administration continues to be engaged on the African continent. Its U.S. Export Assistance Centers in Atlanta and Savannah collaborate with our overseas offices in Africa, State Department partner posts, other federal agencies and local partners to help Georgia companies export. One beneficiary of this export assistance is Georgia-based Strength of Nature Global LLC, which has made new sales of hair care solutions throughout Africa.
This fall, the trade administration’s U.S. Commercial Service will host the Discover Global Markets — Sub Saharan Africa trade conference in Atlanta.
The conference, scheduled for Nov. 5-6, will mark the second anniversary of the launch of the Doing Business In Africa Campaign, and is part of a series of high-profile nationwide events that focus on different export markets. At the forum, businesses will be able to leverage the latest market intelligence, meet with our trade diplomats from throughout Africa, and take advantage of networking opportunities.
Donald Nay is director of the U.S. Commercial Service’s Export Assistance Center in Atlanta.
