Posts Tagged ‘Doing Business in Africa’

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New Memorandum of Understanding with Côte d’Ivoire Slated to Strengthen the United States’ Ties to Africa

December 17, 2018

This post originally appeared on the Department of Commerce Blog.

 Janel Edens is the West & Central Africa Desk Officer in ITA”s Office of Africa 

On December 7th, 2018, the U.S.-Côte d’Ivoire Memorandum of Understanding (MOU) was signed between U.S.Secretary of Commerce Wilbur Ross on behalf of the government of the United States and Minister of Foreign Affairs, Marcel Amon-Tanoh on behalf of the Government of Côte d’Ivoire.

Signing of MOU

Secretary Wilbur Ross and Minister of Foreign Affairs, Marcel Amon-Tanoh sign MOU

“We are fundamentally changing the business narrative between our two great nations,” noted Secretary of Commerce Wilbur Ross during the signing.

The MOU seeks to build awareness among the American business community of commercial opportunities and participation in strategic agriculture, industry, transportation, energy, and other priority projects in Côte d’Ivoire. In fact, these sectors have been prioritized in Côte d’Ivoire’s National Development Plan (NDP) for 2016-2020.

The projects implemented under this MOU will accelerate business growth, increase agricultural output, boost infrastructure and energy development, industrialize the economy, as well as improve the standard of living for Ivorians, while providing new opportunities for U.S. firms.

The Department of Commerce will take the lead in organizing a comprehensive approach that coordinates Federal government programs for providing financing and other assistance to U.S. companies. In addition, under the MOU, the Federal government will work directly with the Côte d’Ivoire Government on removing trade barriers that could prevent American businesses from finding success in Côte d’Ivoire.

The MOU signing was the culmination of an extensive effort that began some time ago. Under Secretary Kaplan himself and business leaders from the United States visited Côte d’Ivoire to conduct high-level discussions during the Presidential Advisory Council on Doing Business in Africa Members’ fact-finding trip to the continent several months ago.

Côte d’Ivoire is a country primed for growth. The nation is already one of the top ten export markets for U.S. goods in Sub-Saharan Africa and considered a strong regional partner for the United States.

The signing of the U.S.-Côte d’Ivoire MOU marked another defining moment in the U.S.-Côte d’Ivoire bilateral relationship and reaffirmed that both countries seek to enhance commercial ties for years to come.

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Discovering the Path to Compete, Win, and Grow in Exports

September 19, 2013

Greg Sizemore is the Director of the International Trade Administration’s U.S. Commercial Service in North Carolina. 

The Discover Forum featured an impressive list of speakers providing insight on doing business around the world. The image shows one speaker addressing all attendees during a keynote address.

The Discover Forum featured an impressive list of speakers providing insight on doing business around the world.

I just met 400 new contributors to the nation’s economic recovery.

After wrapping up this year’s Discover Forum, a premier event for businesses looking to increase exports, I’ve never been more confident about American companies and their desire and ability to compete in the global marketplace. Our ITA team worked with more than 300 business attendees from Raleigh, N.C., to San Antonio, Texas, to St. Paul, Minn., focusing on export strategies.

We had presentations about doing business all around the world, featuring speakers from the public and private sector who know how to compete and win overseas. Commercial diplomats from embassies across the world shared insights about doing business in their respective markets.

Representatives from companies like Western Union, Research Triangle Institute International, and Accenture shared their lessons learned and the strategies that have led to export successes for their businesses.

A buying delegation from Nigeria attended the Discover Forum, making connections with American businesses looking to do business in Africa.

A buying delegation from Nigeria attended the Discover Forum, making connections with American businesses looking to do business in Africa.

On top of that, U.S. commercial diplomats from 20 countries conducted more than 700 one-on-one counseling sessions with individual companies looking to develop export strategies for markets like Kuwait, Australia, and Chile. A special buying delegation from Nigeria met with several companies about doing business in Africa.

Add that in with the networking that always occurs at events like this, and what you have is a top-notch forum to assist any U.S. company interested in doing business overseas.

Discover Forum provided the knowledge and the connections that can give any business an advantage in the global marketplace.

Even better, the learning opportunities don’t end now that the forum is complete. Our trade specialists will continue to work with clients who attended so we can further develop export strategies. We’ll continue to share the information from this forum with other clients who request assistance from ITA. Upcoming annual events like Trade Winds, ACCESS, and next year’s Discover Forum will provide further learning opportunities for U.S. businesses. You can learn about all of our export promotion events and services at www.export.gov.

I can’t stress enough how helpful an event like this can be for a globally focused American business. I’m certain that anyone that attended Discover can vouch for how much they learned.

Wherever your business is, our ITA team is standing by to help any company that is ready to start exporting. I encourage you to contact your nearest Export Assistance Center, and I hope I will see you next year at Discover.

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Why is Everyone Talking About Africa?

August 5, 2013

Claudia Easton is an intern in the International Trade Administration’s Office of the National Export Initiative and Trade Promotion Coordinating Committee. She’s studying Economics and Political Science at Amherst College.

With the President’s recent trip to Senegal, Tanzania and South Africa, as well as the announcement of two new trade initiatives, the spotlight is on Africa – and with good reason.

While speaking at the Business Leaders Forum in Tanzania, President Obama spoke of beginning a new level of economic engagement with Africa. The Doing Business in Africa Campaign (DBIA) is part of the president’s strategy, and the International Trade Administration (ITA) is proud to join other government agencies to support  DBIA initiatives that are helping U.S. businesses compete on the continent.

Trade Africa aims to facilitate expanded trade on the continent. Its initial focus will be on the East African Community (EAC), a market with increasingly stable and pro-business regulations. The plan will support increased U.S.-EAC trade and investment, EAC trade competitiveness, and regional integration. The United States seeks to expand this initiative to other regional economic communities on the continent.

Power Africa is intended to build on Africa’s enormous power potential to expand electricity access to the more than two-thirds of the population that is without power. The President pledged $7 billion in U.S. government support, in addition to $9 billion in private money, over the next five years to double access to electricity in sub-Saharan Africa. Power Africa will help attract investment in Africa’s energy sector, build capacity for reform in the energy sector, and encourage transparent and responsible natural resource management.

ITA partnered with the Millennium Challenge Corporation, the U.S. Trade and Development Agency, and the Overseas Private Investment Corporation to share information about the Power Africa initiative in a Twitter chat in July.

These initiatives will rely heavily on public-private partnerships to succeed. We’re glad to have an excellent partner in the U.S. Chamber of Commerce, who invited Under Secretary of Commerce Francisco Sanchez and other government leaders to speak with businesses about support available under DBIA.

We’ve also highlighted stories of how a heavy machinery exporter and an environmental and energy company have seen recent success on the continent, with help from ITA.

The bottom line is this: Africa is open for business. And with the weight of the president and the administration behind these initiatives, there has never been a better time for U.S. companies of all sizes to take advantage of the enormous opportunities on the continent.

If your business is ready to make Africa a priority, your local U.S. Export Assistance Center can help connect you with federal resources and more information about specific opportunities.

For more information on Doing Business in Africa campaign, please see additional links below:

Doing Business in Africa Campaign:

Main Campaign Page

DBIA Updates on the ITA Blog

Remarks by Under Secretary of International Trade Francisco Sánchez to U.S. Chamber of Commerce forum

Power Africa:

FACT SHEET: Power Africa

Blog: Powering Africa

Remarks by President Obama at Ubungo Symbion Power Plant

#Power4All on Twitter

Trade Africa:

FACT SHEET: Trade Africa

Remarks by President Obama at Business Leaders Forum (Trade Africa)

Video of President Obama Speaking at A Business Leaders Forum in Tanzania

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Doing Business in Africa Campaign: A Success Story

June 18, 2013

This post contains external links. Please review our external linking policy.

Calynn Jenkins is an intern in the International Trade Administration’s Office of Public Affairs. She is studying political science at American University. 

ITA's Executive Director for Export Policy, Promotion, and Strategy Michael Masserman participates in round table discussion about U.S. competitiveness in Africa with representatives from the Export-Import Bank, the Overseas Private Investment Corporation, U.S. Trade Development agency and hosted by Congresswoman Karen Bass (D-CA).

ITA’s Executive Director for Export Policy, Promotion, and Strategy Michael Masserman participates in round table discussion about U.S. competitiveness in Africa with representatives from the Export-Import Bank, the Overseas Private Investment Corporation, U.S. Trade Development agency and hosted by Congresswoman Karen Bass (D-CA) and moderated by Dr. Sharon Freeman, Chairman and CEO of All American Small Business Exporters Association.

President Obama recently said sub-Saharan Africa is poised to be the world’s next greatest economic success story, with U.S. exports to Africa topping $21 billion a year. In fact, Sub-Saharan Africa is home to six of the ten fastest-growing economies in the world, and enormous opportunities exist for U.S. companies to not only do well – but to do good.

That’s why then-Acting Commerce Secretary Rebecca Blank launched the Doing Business in Africa Campaign (DBIA) last November in Johannesburg, South Africa. The campaign furthers the President’s vision of more robust commercial engagement in sub-Saharan Africa by helping U.S. businesses benefit from the export and investment opportunities in the region.

President Obama said on the day of its launch, “Through the DBIA campaign, we are responding to the emergence of African regional economic communities, and working with our partners to deepen integration, reduce barriers to trade and investment, and support existing and new investments by American businesses.”

With the commitment of the Department of Commerce, the International Trade Administration, and interagency partners, DBIA is actively promoting the opportunities available to companies in Africa. Just this morning Commerce, the Export-Import Bank, the Overseas Private Investment Corporation, and U.S. Trade and Development Agency joined a round table hosted by Congresswoman Karen Bass (D-CA) with more than 100 stakeholders including the diplomatic corps and small businesses to talk about U.S. competitiveness in Africa. Each agency highlighted resources available to companies and how they fit together under the DBIA Campaign.

Pittsburgh-based Cardinal Resources, LLC seized the opportunity. Cardinal is an environmental and energy company that produces solar powered water treatment systems. From the company’s beginning in 2004, Cardinal Resources’ founders have always seen exporting and reaching international customers as its key to success. The U.S. Commercial Service (CS) assisted Cardinal Resources, LLC with exporting their solar powered water treatment systems to Africa, including Senegal, Nigeria, Cameroon, Sierra Leone and Ghana.

The Commercial Service communicated with customs authorities to help reduce duties and taxes; therefore, Cardinal Resources, LLC was able to more effectively complete the costly procedure of providing demonstrations of their solar powered water treatment systems to potential buyers overseas. The company is happy to report that they successfully closed two sales and gained over $9 million in sales revenue with the Commercial Services’ help.

“While there are challenges to doing business in Africa, we believe the sun continues to shine bright on the continent,” said Cardinal’s President Kevin Jones. “There is a tremendous need for clean water, and a growing commitment from governments to private companies to meet that need using sustainable solutions like our Red Bird Systems. Exporting sustained our company over the years and exporting to Africa will fuel our growth to new levels.”

Not only is Cardinal Resources, LLC taking advantage of the export opportunities in Africa, but it is strengthening our economy at home by sourcing 90 percent of the components for its systems from U.S. manufacturers. A project in Bayelsa, Nigeria, includes potable water storage tanks manufactured in Stoystown, Pennsylvania. Now that is good business!

To learn more about information technology sector opportunities in Africa, register for the June 20th 11:00 a.m. EST Sub-Saharan Africa Region & Trends: ICT Sector Webinar.

Is your business looking to expand their products overseas? Have you thought about the opportunities in Africa? Visit export.gov/Africa and sign up for email updates to get the latest on opportunities to do business in Africa, the DBIA campaign, and much more!

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Seize the Opportunity and Expand to Africa with the Doing Business in Africa Campaign

November 28, 2012

Francisco Sánchez serves as the Under Secretary of Commerce for International Trade. Follow him on Twitter @UnderSecSanchez.

Aerial view of Cape Town, South Africa. (photo © Graham Bedingfield/iStock)

Aerial view of Cape Town, South Africa. (photo © Graham Bedingfield/iStock)

Now is a great time to do business in Africa.  Consider these stats, highlighted today in remarks given by Acting Secretary Rebecca Blank:

  • Sub-Saharan Africa is home to 6 of the 10 fastest growing markets in the world.
  • Economic growth in the region is predicted to be strong – between 5 and 6 percent – in coming years.
  • And – most importantly – millions of Africans are finding a path from poverty to greater opportunity and prosperity.

This progress is good news for our friends in Africa; it’s also good news for American businesses.  As these numbers show, the growing African market is an increasingly attractive destination for quality products and services.  It just so happens that goods that are “Made in America” are the best in the world.  Now, we just need to link this supply with the demand, and make it easier for U.S. firms to operate in the dynamic African market.

One important effort towards achieving this goal: the “Doing Business in Africa” (DBIA) campaign which I launched with Acting Secretary Blank in South Africa earlier today.

It’s a whole-of-government approach that will:

  • promote more U.S. trade with Africa;
  • increase trade financing;
  • and engage with important stakeholders – like the United States’ African Diaspora community – to ensure they have all the tools needed to do business in the African market.

To achieve these goals, the campaign is involved in a number of initiatives, including:

  • organizing an Africa Global Business Summit Series so that U.S. companies can hear directly from our Ambassadors in Africa and Senior Commercial Officers about opportunities in the region;
  • opening the U.S.-Africa Clean Energy Development and Finance Center in Johannesburg, South Africa in 2013 to help identify and access U.S. government support for clean energy export and investment needs; and
  • developing an Africa Business Portal, providing valuable information about trade assistance programs and financing.

To learn more about the DBIA campaign, visit the website.  It’s sure to represent an important step towards the goal of increased prosperity and opportunity.

Another important step that coincided with the launch of the DBIA campaign is our historic trade mission to Zambia – the first-ever.   I am currently leading a delegation of 13 U.S. companies to both Zambia and South Africa.

This trade mission represents an important opportunity for U.S. businesses.  Trade between the U.S. and these two countries is booming.  In the case of U.S. and Zambia, total bilateral trade more than doubled in 2011.

In the case of South Africa, the largest U.S. export market in Sub-Saharan Africa, total U.S.-South Africa trade was nearly $17 billion in 2011, up from $13.9 billion the year before.  And, both the companies on the mission and the parties we are meeting with are determined to keep this momentum going.

To accomplish this, we are talking with public and private sector officials to facilitate U.S. business opportunities in Sub-Saharan Africa. Participating firms are gaining market insights, making industry contacts, and solidifying business strategies with the goal of increasing U.S. exports to the region.

By boosting U.S. exports, we can strengthen the American economy and fuel economic growth.  This work also advances the President Obama’s vision of greater U.S. engagement in Sub-Saharan Africa, as outlined by the Administration’s “U.S. Strategy on Sub-Saharan Africa” released in June.

All of us at the Department of Commerce share the President’s belief that Africa can be the world’s next great economic success story and value the opportunity to leverage our resources to support this trade mission and the Doing Business in Africa campaign.

Visit the DBIA website on Export.gov to learn more about this exciting new initiative.

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