The Trans - Atlantic South Partnership: Positions on Building a Mutually Beneficial Partnership with Africa
The U.S. has a major challenge on its hands: If the country does not come up with a well coordinated and timely strategy to ride Africa’s economic wave, not only will entities like China and the European Union continue to chip away at America’s strategic interests, the private sector will continue to sit on what a January 2013 Wall Street Journal article estimated to be USD $ 1.7 trillion in cash.
Fortunately, with a CCA proposal for $ 10 billion for Africa’s infrastructure projects now floated, the TASP believes that by putting such mechanisms in place, the U.S. can tap Africa’s potential to generate both profit and U.S. based jobs.
Additionally, save for the ‘Fast Track’ - a politically contentious legislation that would ease the way for new trade deals - the U.S., ostensibly, has an uncluttered trade policy agenda for 2013, and so, progress on AGOA renewal or enhancement, could commence alongside a panoply of Congressional activity, and Administration effort to spur the private sector into Africa’s opportunities.
About the Authors
The Africa Program works to address the most critical issues facing Africa and U.S.-Africa relations, build mutually beneficial U.S.-Africa relations, and enhance knowledge and understanding about Africa in the United States. The Program achieves its mission through in-depth research and analyses, including our Africa Up Close blog, public discussion, working groups, and briefings that bring together policymakers, practitioners, and subject matter experts to analyze and offer practical options for tackling key challenges in Africa and in U.S.-Africa relations. Read more