President Obama has prioritized promoting U.S. trade with and investment in Africa, building Africa’s trade capacity, and extending preferential access to the U.S. market for African products. U.S. non-petroleum imports from Africa increased by 46 percent and U.S. goods exports to Africa increased by 59 percent since 2009, evidence of growing trade ties between the United States and Africa.
The U.S. is pursuing a government-wide approach to enhancing trade ties with Africa, in recognition of the growing significance of the continent to the global economy and U.S. commitment to the continent. Amongst the programs initiated in this effort are the U.S. Agency for International Development (USAID)-backed Trade and Investment Hubs.
Since the Africa Leaders Summit in August 2014, the Hubs have facilitated nearly $220 million in African exports and $75 million in local investment under Trade Africa, while working with local governments and regional economic communities to meet WTO commitments, establish the framework for national single window and trade information portals, and modernize customs procedures. Over the next five years the Trade and Investment Hubs in East and West Africa are expected to facilitate over $200 million in new investments and foster the creation of 37,000 jobs.