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" /> Voice Out Digital Record Trade Deals Between US and Africa Worth $14.2 Billion | Voice Out Digital
Published On: Thu, Dec 14th, 2023

Record Trade Deals Between US and Africa Worth $14.2 Billion

The United Nations government officials said on Wednesday that it had signed the record trade deals with Africa worth $14.2 Billion between the United Nations and Africa. That seeks to deepen the engagement with African nations, as Washington seeks to counter China’s growing influence on the continent.

In the past year, the United States has supported and helped close 547 new deals for a total estimated value of $14.2 billion in new two-way trade and investment between the United States and African countries. This represents an increase of approximately 60 percent in the number and value of closed deals over 202.

The 547 new trade and investment agreements represent a 67% increase on 2022 in the number and value of closed deals, said British Robinson, coordinator for the US administration’s Prosper Africa trade and business initiative.

“We have had a record-setting year for US-African relations,” added Judd Devermont, President Joe Biden’s top Africa advisor.

Devermont and Robinson were speaking at a virtual media briefing marking the first anniversary of a summit with African leaders, where Biden pledged to go “all in” on the continent.

Devermont said the US has already delivered more than 40% of a commitment made last December to invest $55 billion in Africa over three years.

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