Over the previous year, the United States has signed to trade and investment agreements with African states valued at $14.2 billion. The agreements are a component of US efforts to counter China’s expanding influence on the continent. According to British Robinson, the new deals signify a 67 percent rise from 2022. He is employed by the trade and commerce initiative Prosper Africa. The initiative links American and African companies. “The U.S. business and investment community is increasingly realizing Africa’s… market potential,” Robinson stated. The youngest population in the world is found on the continent, he continued, which may lead to new business ventures and job development. The senior director for African affairs at the US National Security Council is Judd Devermont. According to Devermont, the US has committed to investing about $55 billion over the course of three years.
He claimed that by the end of 2023, the United States had fulfilled more than 40% of its commitment. And that the United States will surpass seventy percent of its target the following year. In addition to advancing trade and technology, the investment has improved food and health security across the continent. The United States would “go all in,” according to American President Joe Biden, during a meeting with African leaders in Washington, D.C. last year. The pledge was made at a time when China was using new governmental structures, loans, investments, and other initiatives to increase its power on the continent. Biden also demanded that African perspectives be heard in international organizations. The African Union became a permanent member of the G20, an association of the biggest economies in the world, in September with the help of the United States.
According to Devermont, the United States is likewise in favor of Sub-Saharan Africa having a third seat on the Internal Monetary Fund leadership group. Additionally, the United States is requesting that Africa be represented permanently on the U.N. Security Council. The United States has been forced to modify its trade and investment policy in conflict-affected nations. Jonathan Pratt holds the position of Principal Deputy Assistant Secretary within the U.S. Department of State’s Bureau of African Affairs. According to him, the United States has implemented economic penalties known as sanctions on Sudan. The United States is emphasizing peace via dialogue in Niger, one of several nations that saw violent and military takeovers of governments. According to Pratt, the United States concurs with the penalties imposed by the Economic Community of West African States. He declared, “We’re willing to explore progressively lifting that freeze in assistance and potential investments if the country and the leadership there turn back to a democratic path.
Leave a Reply