US throws a bone to Africa

[dArKeR]

Trade between the United States and Africa fell during 2002, weighed down by a decline in US exports of transportation goods and a decrease in energy exports from Africa, according to a US report.

But trade is likely to pick up in coming years because of a deal between Washington and several African nations and a new US energy policy, said the study from the US International Trade Commission (ITC).

In 2002, US-sub-Saharan merchandise trade totalled $24,1-billion, down from $27,8-billion in 2001. In the same year, US exports to the area declined by 12,7%, to $5,9-billion, and US imports fell 13,5% to $18,2-billion, says ITC.

The commission released its fourth annual report on Tuesday, calling it a tool that President George Bush could use to develop a comprehensive trade and development policy for the countries of the region.

http://www.mg.co.za/Content/l3.asp?ao=30327