President Tells African Leaders to Lower Trade Barriers, Improve Infrastructure
The White House has posted a readout of President Obama's meeting with African Growth and Opportunity Act leaders. The President met with high-level officials from thirty-two African countries, the African Union, and other regional organizations as part of the ninth annual AGOA Trade and Economic Cooperation Forum.
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The President applauded trade growth between the U.S. and Sub-Saharan Africa under AGOA, but urged African officials to make their economies even more competitive by combating corruption, lowering trade barriers between each other, and improving infrastructure. The President noted that his new policy on global development will complement AGOA by focusing on economic growth and good governance and that the U.S. will make targeted investments where the conditions for growth are right in order to help create the next generation of emerging markets. The President underscored the need for private savings, investment and trade, and reiterated his commitment to an ambitious Doha Round that would benefit low income countries, including the economies of Sub-Saharan Africa.