Washington, D.C. -(October 29, 2001) Today, President George W. Bush announced at the United States-Sub-Saharan Africa Trade and Economic Cooperation Forum plans to establish an Africa Regional Trade and Development Office under the auspices of the U.S. Trade and Development Agency (TDA). Trade and investment is a core component of the Administration's increased engagement in Sub-Saharan Africa. The TDA Regional Office will provide on-the-ground guidance to African governments and companies seeking to improve their access to the expertise and resources of the U.S. private sector and USG trade and development programs. The office also will promote U.S. business opportunities in development projects by providing TDA the ability to access more projects at an early planning stage. Additionally, this regional office will allow TDA to work more closely with local government officials and project sponsors in the region. The Africa Regional Trade and Development Office will be located at the U.S. and Foreign Commercial Service Commercial Center in Johannesburg, South Africa.

The primary sectors that TDA expects the office to emphasize include energy, water/environment, telecommunications, transportation, and mining and minerals. TDA will increase its regional presence with this office and will target beneficiary countries of the African Growth and Opportunity Act (AGOA). TDA expects to increase its funding commitments in the region for feasibility studies, orientation visits, specialized training grants, business workshops, and various forms of technical assistance. TDA will work in close cooperation with the U.S. Departments of Commerce and State, the trade finance agencies Ex-Im and OPIC, and other U.S. government agencies that are seeking to expand Africa-U.S. commercial ties.

TDA places a high priority on Africa in carrying out its dual mission of supporting overseas development projects and promoting U.S. exports. Since the agency's first African grant was signed in Tanzania in 1981, TDA has invested over $78 million. This investment has translated into over $1.6 billion in exports for American companies, $600 million of that from Sub-Saharan nations. These projects achieve important development goals, such as providing clean water and a reliable electricity supply, which improve standards of living and provide the infrastructure base for further economic development.

TDA promotes American private sector participation by helping U.S. companies pursue business opportunities in developing and middle income countries. TDA helps American businesses compete for infrastructure and agribusiness projects in emerging markets that contribute to economic expansion in these markets. In addition, the agency promotes capacity building initiatives and supports U.S. government trade, economic policy and development objectives around the world.

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