US-African Leaders Participate in U.S.-Africa Business Summit

Many African heads of state and prime ministers as well as senior-level U.S. government officials are currently participating in the fourth U.S. Africa Business Summit, held this June 24-27, themed "building partnerships."

The gathering, organized by "Corporate Council on Africa," includes a scheduled appearance on Thursday by US President George W. Bush, Secretary of State Colin Powell on Friday, U.S. Trade Representative, Robert Zoellick and secretary for commerce, Donald Evans.

The goal of the Summit is to facilitate export/import trading, identify agents, representatives and distributors, explore joint venture partnerships and strategic alliances, and promote foreign direct investment in Africa.

African political and economic openness, security, environment, funding investment projects, fighting poverty, hunger, illiteracy and AIDS will all be debated in the summit.

On the sidelines of the encounter, exhibitions of artworks, jewellery and traditional outfits are being organized by professionals to highlight the cultural richness and potentials of African countries.

Nearly 16 African heads of state and government are attending the biennial event, which was launched in 1997, along with more than 2,000 participants from governments and the private sector in Africa and the United States, as well as Europe and Asia.

The summit is part of the U.S. African Growth and Opportunity Act (AGOA) initiative, launched in 2000, that makes a historic U.S. contribution to sub-Saharan Africa's development. AGOA provides duty-free access to the U.S. market for a wide range of products from eligible African countries, while spurring African governments to make their countries attractive to U.S. investment.