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Cape Town - Trade between the United States of America and Sub-Saharan Africa is set for continued growth, as both regions build upon the recent US Presidential Policy Directive (PPD) to achieve sustainable development through increased trade and investment.
This is according to Charles Brewer, managing director for DHL Express Sub-Saharan Africa. He recently visited to the US to meet with key stakeholders and multi-nationals, as well as promote commerce between the two regions.
“We have already seen this increased trade in specific countries on the continent, as they take advantage of preferential trade agreements and state-led policy change to increase exports and imports with the US,” said Brewer.
Key markets driving this growth are Nigeria, Ghana, Mozambique, Mauritius and South Africa.
Figures recently released by the International Monetary Fund (IMF), as well as the company’s own performance, reveal a positive economic outlook for Africa.
The figures also highlight the fact that Africa is proving to be less susceptible than other regions to the peaks and troughs in the global economy, as it diversifies its trading partners.
“Since 2001, many African countries have seen a significant shift in trade partners,” said Brewer.
“Our dependency on Europe has been reduced, while trade with Asia as well as intra-Africa has picked up significantly."
The IMF’s Regional Economic Outlook for Sub-Saharan Africa report found that economic activity in the region is projected to expand by about 5% in 2012 and 2013, a similar pace to that observed in 2010–11.
DHL Express has seen a similar picture appearing between the US and various African trade lanes, with larger, more developed economies like South Africa, Nigeria, Ethiopia, Kenya, Ghana and Angola boasting strong double digit growth on both inbound and outbound volumes.
“Our shipment figures for exports from South Africa to the US grew significantly over the last year for August 2013 compared to the lower single digit year-on-year growth of August 2011 vs. August 2012," said Hennie Heymans, managing director for DHL Express SA.
The top commodities being shipped along this trade lane include study material, books, CDs, DVDs and marketing material.
The company’s shipment figures also revealed that it is the smaller, rising economies that are seeing a major boom, with Somalia, Mayotte, Guinea-Bissau and South Sudan seeing meteoric increases in imports from the US, and Comoros, Eritrea, South Sudan and Liberia enjoying significant demand for exports to the US.
“The US and Africa have historically enjoyed favourable trade conditions based on the Africa Growth and Opportunity Act (AGOA) of 2000,” said Ian Clough, CEO for DHL Express USA.
“We are confident that, when this legislation is reviewed, there will be further benefits for both US and African businesses looking to build cross-border business opportunities.”
Brewer said it is now the role of the private sector and the thousands of SMEs looking for opportunities to take advantage of this growth, and build success on this lucrative trade lane.
- Fin24
This is according to Charles Brewer, managing director for DHL Express Sub-Saharan Africa. He recently visited to the US to meet with key stakeholders and multi-nationals, as well as promote commerce between the two regions.
“We have already seen this increased trade in specific countries on the continent, as they take advantage of preferential trade agreements and state-led policy change to increase exports and imports with the US,” said Brewer.
Key markets driving this growth are Nigeria, Ghana, Mozambique, Mauritius and South Africa.
Figures recently released by the International Monetary Fund (IMF), as well as the company’s own performance, reveal a positive economic outlook for Africa.
The figures also highlight the fact that Africa is proving to be less susceptible than other regions to the peaks and troughs in the global economy, as it diversifies its trading partners.
“Since 2001, many African countries have seen a significant shift in trade partners,” said Brewer.
“Our dependency on Europe has been reduced, while trade with Asia as well as intra-Africa has picked up significantly."
The IMF’s Regional Economic Outlook for Sub-Saharan Africa report found that economic activity in the region is projected to expand by about 5% in 2012 and 2013, a similar pace to that observed in 2010–11.
DHL Express has seen a similar picture appearing between the US and various African trade lanes, with larger, more developed economies like South Africa, Nigeria, Ethiopia, Kenya, Ghana and Angola boasting strong double digit growth on both inbound and outbound volumes.
“Our shipment figures for exports from South Africa to the US grew significantly over the last year for August 2013 compared to the lower single digit year-on-year growth of August 2011 vs. August 2012," said Hennie Heymans, managing director for DHL Express SA.
The top commodities being shipped along this trade lane include study material, books, CDs, DVDs and marketing material.
The company’s shipment figures also revealed that it is the smaller, rising economies that are seeing a major boom, with Somalia, Mayotte, Guinea-Bissau and South Sudan seeing meteoric increases in imports from the US, and Comoros, Eritrea, South Sudan and Liberia enjoying significant demand for exports to the US.
“The US and Africa have historically enjoyed favourable trade conditions based on the Africa Growth and Opportunity Act (AGOA) of 2000,” said Ian Clough, CEO for DHL Express USA.
“We are confident that, when this legislation is reviewed, there will be further benefits for both US and African businesses looking to build cross-border business opportunities.”
Brewer said it is now the role of the private sector and the thousands of SMEs looking for opportunities to take advantage of this growth, and build success on this lucrative trade lane.
- Fin24
