Statement on House and Senate Voting on Final Passage of AGOA

African Diaspora:
The term African Diaspora means the peoples of African descent living outside Africa, irrespective of their citizenship and nationality, who are willing to contribute to the development of Africa.
 

The Merging Market:
Eleven of the fastest growing economies in the world are African countries. The growth of the middle class in Africa is creating a massive market for technology and other consumer products. The African market is dominated by the BRIC nations (Brazil, Russia, India and China). China traded $200B last year. In 2011, the US-Africa trade was merely $33B per year. With a collective gross domestic product of $1.6 trillion and is projected to double in the next 10 years. Africa represents a potentially profitable destination for US investment dollars. According to a UN conference on trade and development study return on investment on African countries has averaged nearly 30 percent annually, exceeding the global average.
 

Africa Investment Diaspora Act (US H.R. 656):
The African Investment Diaspora Act, introduced at the 112th Congress by Congressman Bobby Rush aspires to advance mutual interest for the US and Africa with respect to the promotion of trade and investment and the advancement of social economic development. READ MORE