THE WHITE HOUSE
Office of the Press Secretary
FOR IMMEDIATE RELEASE
August 3, 2010
This afternoon, after his Town Hall with young African leaders, the President met with high-level officials from thirty-two African countries, the African Union, and other regional organizations as part of the ninth annual African Growth and Opportunity Act (AGOA) Trade and Economic Cooperation Forum. The Forum brings together high-level officials and business leaders to advance trade and economic ties between the United States and Sub-Saharan Africa.
The President applauded trade growth between the U.S. and Sub-Saharan Africa under AGOA, but urged African officials to make their economies even more competitive by combating corruption, lowering trade barriers between each other, and improving infrastructure. The President noted that his new policy on global development will complement AGOA by focusing on economic growth and good governance and that the U.S. will make targeted investments where the conditions for growth are right in order to help create the next generation of emerging markets. The President underscored the need for private savings, investment and trade, and reiterated his commitment to an ambitious Doha Round that would benefit low income countries, including the economies of Sub-Saharan Africa.