Trade and Investement Mission to Southern AFRICA

Agriculture Secretary Mike Johanns today invited U.S. agribusiness firms to participate in a Trade and Investment Mission to the Southern Africa Region Oct. 31-Nov. 4, 2005.

"The Southern Africa region has experienced a decade of political, social and economic reform, creating a dynamic environment for economic growth," Johanns said. "Since the passage of AGOA, U.S. agribusinesses looking to enter or expand their presence in Africa have greater opportunities for success, as African products have duty-free access to the U.S. market."

Johanns extended the invitation at the African Growth and Opportunity Act (AGOA) Forum being held in Dakar, Senegal, which encourages trade and investment in African nations that have implemented good economic and political reforms. The goal of the mission is to promote U.S.-Africa agribusiness cooperation and trade and investment, particularly in the dry goods, food processing, beer and spirits, seafood, livestock genetics and production inputs and equipment sectors. Mission participants will stay in Pretoria, South Africa, where they will have the opportunity to form partnerships with African entrepreneurs from Angola, Botswana, Lesotho, Madagascar, Mauritius, Mozambique, Namibia and South Africa.

While each country in the region is at a different stage of development, all are extremely interested in facilitating U.S. investment and involvement in the agricultural sector. In addition, high-quality bulk and consumer-oriented products are needed to boost domestic agricultural efficiency and meet consumer demand. Direct marketing or cooperation with local distributors will give U.S. agribusiness exposure in this region.

AGOA has helped to boost two-way trade between the United States and Sub-Saharan Africa to over $44 billion in 2004, with U.S. imports from the region increasing by more than 50 percent from 200 to 2004. Processed agricultural products have also doubled during this time period, reaching $3.5 billion in 2004. The market access that AGOA has provided to African nations has led to the creation of tens of thousands of new jobs in Africa and attracted hundreds of millions of dollars of new investment.

For businesses interested in participating on the Southern Africa Region Trade and Investment Mission, contact Darrell Upshaw with USDA's Foreign Agricultural Service at tel.: 202-690-1786 or mailto:Darrell.upshaw@fas.usda.gov


DAKAR, SENEGAL, July 19, 2005
Release No. 0269.05
Contact:
Terri Teuber (202) 720-4623
Linda Habenstreit (202) 720-9442

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