US, Africa Trade Relations Hit $17.1bn

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The Deputy Assistant U.S. Trade Representative for Africa, Ms Constance Hamilton on Wednesday said United States of America (U.S.)Africa trade relation was more than 17.1 billion dollars in 2010.

Hamilton told the The Tide source correspondent in Addis Ababa in a telephone interview that the trade between the two sides recorded about 12 per cent increase in 2010 when compared to the figures in 2009.

She, however, said the trade balance was in favour of her country.

Hamilton said that crude oil was the leading product on the African export trade list followed by clothing and cereals.

According to her, aircraft, vehicles, computers and other science and technology products top the list of the U.S. export to Africa.

She said her office would continue to implement the African Growth and Opportunity Act (AGOA) which was established by the U.S. 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 U.S. markets’’, she said.

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

“The U.S. will focus on infrastructure development, provision of energy and adequate transportation in Africa to enable its industries to operate effectively’’, she said.

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