Video Remarks by President George W. Bush on the 2005 African Growth and Opportunity Act Forum
July 18, 2005
On behalf of America, I send greetings to the people of all the African
nations represented at the AGOA Forum. I am grateful to all of you who
have traveled far to discuss our shared vision for an Africa that is
home to democracy, prosperity, and opportunity. This is a hopeful moment in the history of Africa. The governments of
many African nations are being transformed. Many African economies are
vibrant and growing. In Sub-Saharan Africa as a whole, economic growth
is now at its highest level in eight years.
An important part of Africa's rising prosperity is the African Growth
and Opportunity Act, or AGOA. This wise legislation is reducing
barriers to trade, increasing exports, creating jobs, and expanding
opportunity for Africans and Americans alike.
AGOA is getting results. Political reforms in Africa have inspired
confidence among American investors. Last year, U.S. exports to
Sub-Saharan Africa increased 25 percent - and America's imports from
AGOA countries rose 88 percent. The success of AGOA is proving that
open trade and international investment are the surest and fastest ways
for Africa to make progress. So last year, I was proud to sign a law
extending the benefits of this vital program.
Over the next several days, you will discuss further ways to expand and
diversify trade, so we can sustain economic growth. I am confident that
your efforts will lead to greater interest and investment in AGOA
nations. You will also be offered practical information about meeting
U.S. export requirements and entering U.S. markets. As part of
America's long-term commitment to increased trade with Africa, I intend
to launch the African Global Competitiveness Initiative, which will give
a record number of entrepreneurs access to the information and advice
they need to succeed in business and foreign trade.
I appreciate the good work you are doing, and I look forward to our
continued partnership on AGOA. Africa is a continent of promise and
talent, and opportunity - and together we will help the people of Africa
realize the bright future they deserve.
Thank you very much.
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