Washington, DC – The National Foreign Trade Council (NFTC) today joined twenty-five other leading trade associations, members of the U.S. business community and NGOs in releasing a proposal for broad-based economic growth and trade promotion with Sub-Saharan Africa. The White Paper on Trade and Development Policy with Sub-Saharan Africa outlines a comprehensive framework on how the U.S. can successfully generate widespread and sustainable growth within the region.
“The report represents the collaboration of a diverse group from business and the development community who firmly believe that free trade and market access will create economic opportunity in Africa and more jobs in the U.S.,” said Chuck Dittrich, NFTC Vice President for Regional Trade Initiatives. “Expanding, modernizing and extending U.S. trade preference programs is a large part of that equation.”
The white paper focuses on how the United States can form partnerships with African governments, regional institutions, businesses and NGOs to promote economic development in a region with underdeveloped markets, constrained productivity and limited economic opportunities. The report’s recommendations – which include improving trade preference programs, coordinating development policies, boosting regional markets and enhancing government aid – provide a blueprint for how the United States can create jobs at home while mitigating many of Africa’s economic impediments.
“The current focus on updating U.S. trade preference programs provides us with a rare opportunity to promote trade, open markets and expand economic growth in Sub-Saharan Africa,” said NFTC President Bill Reinsch. “And it’s an opportunity we should most certainly take advantage of now.”
To read a full copy of the white paper, click here. www.nftc.org/default/Press Release/2010/Africa White Paper.pdf
About the NFTC
Advancing Global Commerce for 95 Years – The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York. Follow us on Facebook and Twitter.