The impact of globalization and increasingly diversified global investment portfolios have prompted countries in the Americas and Africa to strengthen existing bilateral relations and seek out new opportunities for commercial partnerships.

Over the past decade, there has been a marked increase in the numbers of companies from the Americas exploring opportunities in African markets and vice versa. By 2010 some countries like Brazil successfully increased trade with Africa from $ 4 billion in 2000 to $ 20 billion. In 2009 Brazils total investments in Africa was listed at some $200 billion. Supported by high levels of growth, Africans investors are now also exploring new opportunities for trade and investment in Latin America and the Caribbean. New opportunities continue to be found in both regions, as improvements to the telecommunications and infrastructure help to bridge traditional gaps.

Within the last 10 years, 6 of the 10 fastest growing economies in the world have been listed in sub-Saharan Africa. The International Monetary Fund forecasts that Africa will occupy seven of the top ten places over the next five years. Yet the volume of trade between these two regions is still low in spite of partial trade agreements between individual countries.

It is against this background that the Government of Trinidad and Tobago, through the Embassy of Trinidad and Tobago in Washington, DC, and the Organization of American States, through the Office of the Assistant Secretary General, with support from Corporate Council on Africa and the Africa Society of the National Summit on Africa, have jointly organized the “Americas-Africa Business Forum: New Commercial Partnerships for Economic Growth.” 

The ultimate objective of the Forum, which will take place at the OAS Headquarters in Washington, D.C. is to seek out new commercial partnerships, strengthen existing ones and increase business development, trade and investment.
 

Organizers

Format

The Americas-Africa Business Forum is a one-day event which will highlight the vast untapped opportunities for Western Hemisphere-African commercial relationship.  Keynote remarks will be delivered by high-level government officials from both regions followed by a panel on the challenges and opportunities for commercial partnerships. Three parallel sessions will focus on the energy, agri-business and mining sectors. There will be a panel of Ministers of Finance from Africa and the Americas taking advantage of the presence in Washington of Ministers of Economy and Finance from around the world who will meet during the World Bank and International Monetary Fund meetings.

Deliverables

• Identification of new and profitable, and employment creating business, trade, and investment opportunities to strengthen Americas-Africa economic relations.
• Creation of a business network that encourages and facilitates Americas-Africa business cooperation including joint ventures for trade and investment. The network can serve as the clearing house for business contacts, information exchanges, investment and export missions and other forms of networking with a view to promoting specific private sector ventures.