
Minister of Commerce, Trade and Industry Hon. Felix Mutati received a standing ovation after delivering a strong emotional speech that was punctuated with a strong message that” Africa is a new frontier for investment” amid long and loud applauses
He told his audience and in particular American investors that they will lose huge opportunities if they avoid ” investing in changing Africa.”
“Africa is changing. At least 38 African countries in the recent past have moved towards political stability and good governance. They have also implemented reforms to improve the way they conduct business,” he said.
It was for this reason that he challenged American companies to take advantage of the African Growth Opportunity Act (AGOA) as Africa was open and ready for job creation and accountability.
He commended the hard work and dynamism of African women who are also attending the Forum in their determination to make a difference and prosper in a world dominated by men citing as an example Ghana’s Chief Excecutive Officer of Homefoods Processing and Cannery Limited, Felicia Twumwasi and Zambia’s Sylvia Banda CEO of Sylva Food Solutions Inc.
“ I salute African women who started their businesses in their kitchens and are now able to run multi million dollar companies or have expanded from catering to processing and packaging traditional Zambian foodstuffs.i
Hon. Mutati also spoke at a panel discussion moderated by the US Assistant Secretary of State for African Affairs, Ambassador Johnnie Carson. Other speakers were Mr. Ezra Sabiti Suruma a former Minister of Uganda, Ambassador Islam Siddiqui Chief Agriculrural Negotiator from the office of the US Trade Representative, and Mr. Philippe Villers, the Chief Executive Officer of GrainPro in Massachussetts.
The African Growth and Opportunity Act (AGOA) Forum opened last Monday 2nd August, 2010 in Washington. It moved to Kansas City on Thursday 5th August, 2010 in order to link African business people with American counterparts.
Passed into law 10 years ago, the trade policy seeks to boost Africa’s economic growth by allowing 6,400 products duty-free access to the American market.
US exports to Africa under the Act increased to $18.5 billion in 2008 from $10.2 billion in 2005, while exports from Africa soared to $86 billion from $50.3 billion, according to the latest numbers from the US Department of Commerce.
Later, the Minister and his Zambian delegation met with some business leaders from US companies to discuss specific areas for investment.
The Minister also toured the Zambian stand accompanied by Her Excellency, Mrs. Sheila Siwela, Zambia’s Ambassador to the United States of America.
He also held bilateral talks with his Angolan counterpart, Mrs. Maria Idalina Volente, the Angolan Minister of Trade. The discussions were mainly focused on increased trade between the two countries.