Africa-US trade records 12 percent increase in 2010

Africa-US trade records 12 percent increase in 2010

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Africa’s trade relation with US has recorded a 12 percent increase with more than 17.1 billion dollars in 2010 when compared to the figures in 2009.

The Deputy Assistant US Trade Representative for Africa, Ms Constance Hamilton, said this on Wednesday in Addis Ababa.

She, said that the trade balance, which was in favour of her country, had crude oil as the leading product on the African export trade list followed by clothing and cereals.

Hamilton noted that aircraft, vehicles, computers and other science and technology products top the list of the US export to Africa.

Established Growth Act

She said her office would continue to implement the African Growth and Opportunity Act (AGOA), which was established by the US government to open up markets and improve the investment climates in African countries.   

“Our markets are open to African products without tax. African businessmen should take this advantage. Currently, not many products from Africa are found in the US markets’’, she said.

Hamilton, however, attributed the low number of African products in the US to problems associated to energy, transportation and infrastructure. 

Improving infrastructure

She said that the US would focus on infrastructure development, provision of energy and adequate transportation in Africa to enable its industries to operate effectively. 

She said security, energy and infrastructure were some of the basic needs of US investors planning to invest in Africa.

NAN/Williams