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President Highlights Need to Increase Exports to Africa

Monday, June 23, 2014
Sandler, Travis & Rosenberg Trade Report

President Obama briefly discussed ongoing U.S. trade initiatives and potential export opportunities at the June 19 meeting of the President’s Export Council. He said that his administration is working hard to finalize separate trade agreements with the European Union and the Trans-Pacific Partnership group of countries that will make the U.S. “the center of a free trade hub covering two-thirds of the world economy.” He also highlighted the need to expand trade with Africa, noting that six of the ten fastest-growing economies in the world are located in that continent. The president observed that even though a number of African countries “are doing very, very well” the U.S. is “not penetrating those markets as well as we should.” In this regard, the president mentioned that the African Leaders Summit in August offers a “great opportunity” to talk about trade, development and private partnerships. 

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