US looking to expand trade ties with Africa

A top diplomat today gave information that the US is aiming to expand its relationship with Africa in trade and investment and countering terrorism.

Africa is a growing market with vast potential and the current US administration will focus their bilateral economic relationship on trade and investment, Xinhua news agency quoted US State Secretary Rex Tillerson as saying while addressing a ministerial meeting with the African Union here.

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Bilateral trade and investment between the US and African countries have been growing in the past years. US exports to Sub-Saharan Africa grew from 17 billion USD in 2010 to over 25 billion dollars in 2014, according to statistics from the US government.

The US direct investment in Africa jumped to a record high of 57.5 billion dollars last year.

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“The United States sees even more opportunity ahead in the coming years,” said Tillerson in the meeting with the 55-member Continental body.

The US will seek to strengthen counter-terrorism cooperation with African countries, including addressing “the root causes of violent extremism”, he added.

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