Lawmaker unveils US economic engagement plan with Africa to counter China
{mosads}The recommendations include:
- Supporting African-led efforts to improve the business climate on the continent and removing barriers to trade;
- Reauthorizing and strengthening the African Growth and Opportunity Act (AGOA), a system of trade preferences for eligible countries, well in advance of its 2015 expiration;
- Improving coordination between U.S. government agencies and developing a comprehensive interagency strategy for increased investment in sub-Saharan Africa;
- Increasing the presence of U.S. Foreign Commercial Service Officers in sub-Saharan Africa to help U.S. companies navigate the business climate in the region;
- Increasing support for agencies that provide financing to encourage U.S. commercial engagement overseas, mitigate investment risks, and generate a profit for American taxpayers; and
- Engaging the African diaspora community in the U.S. to strengthen economic ties.
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