US, Africa face-off at Biden summit, with SA's preferential market access up in the air | Business

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The US’s resolve to claw back lost influence in Africa will be put to the test this week when dozens of the continent’s leaders and officials gather for three days of talks with their American counterparts in Washington. | News24_Business

A top priority of President Joe Biden’s US-Africa Leaders Summit, which aims to increase cooperation on some of the world’s most pressing issues, will be to map out the future of market access.

"We very much have the next phase in mind as we start these conversations," Bianchi said."This was a priority for us. Getting these direct dialogs is truly the point and the opportunity of this summit.

In January 2021, the African Continental Free Trade Area — which would be the world’s biggest free-trade zone by area when it kicks into full gear in 2030 — The initiative is likely to become a key pillar in facilitating trade between the US and Africa. The bloc has a potential market of 1.3 billion people with a combined gross domestic product of $2.6 trillion.

US Chair of the Senate Foreign Relations Subcommittee on Africa Chris Van Hollen and Chair of the House Foreign Affairs Subcommittee on Africa Karen Bass on Friday proposed the strengthening the AfCFTA Act. That would require Biden to develop an interagency long-term strategy on infrastructure development and technical support to promote African continental trade.

 

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_Business Looks like US needs some more African American workers.

_Business Africans in a classroom with the devil himself.

_Business 1st get rid of that so called leader.

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