All 49 invited African heads of state will attend, White House confirms
The United States-Africa Business Forum (USABF), taking place on the second day of the United States-Africa Leaders Summit in Washington DC this month, will promote mutually beneficial partnerships that will create jobs and fuel growth. inclusive and sustainable in the continent.
Making this known, during a digital press conference yesterday, the Under Secretary of Commerce for Global Markets and the Director General of the Foreign Trade Service of the Department of Commerce, Arun Venkataraman, said that in addition to expecting a major policy announcement at the end of the US-Africa relationship President Joe Biden’s Business Summit, a deal room at the summit will showcase bold, multi-billion dollar commitments between the US and Africa.
USABF will feature a Deals Room to provide space for business leaders and stakeholders to announce new investments, initiatives and other business deals, and build further partnerships.
The Deal Room will showcase the ways the US private sector is launching new projects and collaborations that will boost trade and investment between the US and the mainland. He said: “This is the first summit of its kind to take place in six years and the Accords Room is another thing that sets this summit apart from previous ones. We have a great interest in supporting Africa’s progress in various sectors.
“We recognize the fact that there are significant geopolitical challenges and those challenges have a unique and disproportionate impact on Africa, whether it is the pandemic, climate change or the impact of food and fuel supplies due to the Russian war in Ukraine and these challenges. are hitting Africa is difficult, but these challenges present opportunities.
“We are proud that with the strongest private sector in the world coming up with the most innovative solutions, the US private sector has the unique opportunity to partner with African colleagues to create the solutions needed to address every challenge.”
For three days, December 13-15, President Biden will host the second US-Africa Leaders Summit, the first heads of state meeting of African leaders and a US president since 2014.
Also speaking, Deputy Under Secretary for the Middle East and Africa Camille Richardson said: “We want to engage people and businesses, hearts and minds in new investment partnerships and opportunities with Africa.”
The USABF will focus on growing the US-Africa trade partnership, with priority discussion topics including US-Africa engagement to boost trade and investment flows, promote innovation and digital transformation , strengthen regional and global health, address food security and support climate change. sustainability.
Meanwhile, the 49 African heads of state invited by Biden have confirmed their attendance at the summit. According to a White House Homeland Security spokesman, the 50 guests, 49 African heads of state, including President Muhammadu Buhari and the African Union (AU) chairman, have confirmed their attendance.
On the expected results, the African continent had long insisted that now is not the time for aid, but for trade. “With a new African Continental Free Trade Area (AfCFTA) uniting 54 nations in the world’s largest trading bloc, a growing population set to double by 2050, and AfCFTA set to increase Africa’s GDP At $450 billion, the business imperative to engage with Africa has never been clearer. The continent’s potential for US business remains vastly underestimated and misunderstood, but now is the time for the US to tap into the world’s next great growth market,” Richardson said.
