PH
In the midst of a war for influence on the continent with China, the United States celebrated the signing of record trade agreements with Africa this year, totaling $14.2 billion, on Wednesday.
According to British Robinson, coordinator of the UNITED STATES’ “Prosper Africa” trade strategy, about 550 new trade and investment agreements had been inked, representing a 67% increase in terms of number and value over 2022.
“We have had a record year for US-Africa relations,” said Judd Devermont, head of sub-Saharan Africa at the White House, during an online press conference organized a year after a summit with African leaders during which US President Joe Biden pledged to “pull out all the stops” on the continent.
Washington agreed to investing $55 billion in Africa over three years in December. This policy tries to counter China’s expanding footprint, which has made notable gains in infrastructure projects, investments, and loans.
Mr. Devermont emphasized that the United States has already met more than 40% of these obligations. “By the end of the second year, we plan to exceed at least 70% of our goals,” he said.
