Federal Initiatives Promote Trade With Sub-Saharan Africa
Export-minded companies in the U.S. can expect to see more opportunities to trade with nations in sub-Saharan Africa as a result of a recently announced federal initiative.
The Obama Administration’s U.S. Strategy Toward Sub-Saharan Africa follows on a successful effort to bolster trade with Latin America, which saw exports to southern neighbors top $367 billion in 2011. That’s a 54-percent increase since 2009, making the region a hot spot for U.S. companies striving to go global.
While the U.S. Department of Commerce plans to continue the Latin American initiative, it also has set up offices in 25 African countries to assist American businesses with exporting to lucrative markets in the region.
Trade specialists and export assistance firms may need to brush up on the trade practices in those nations to take advantage of the federal program.