The United States.Africa Business Forum 2019 began on 19th June in the Joaquim Chissano Conference Centre in Maputo (Mozambique), with over 1500 attendees from America, Africa and other places. The Republic of Equatorial Guinea is attending the debates with a senior delegation led by the Vice-President of the Republic, H. E. Teodoro Nguema Obiang Mangue.
The United States Government and the African continent wish to adopt joint strategies in order to continue to strengthen bilateral cooperation. This desire was expressed by African leaders and representatives from the Washington Administration.
This 12th edition of the United States-Africa Business Forum is being attended by five Africa statesmen, including the Vice-President, H. E. Teodoro Nguema Obiang Mangue, and over a thousand African and American economic players, under the banner “Promoting a resistant sustainable association”.
The opening ceremony included several speeches. The President of the host country, H. E. Felipe Jacinto Nyusi, in his speech, expressed words of gratitude to all the guests for taking part in the event, and to the States that showed solidarity with his country following the two cyclones in 2019. Jacinto Nyusi also presented to foreign economic operators the advantages of investing in Mozambique.
For her part, the US Deputy Secretary for Economic Affairs, Karen Dunn Kelli, highlighted to those present that the Government of her country was interested in further strengthening trade and financial relations with African countries.
Nguema Obiang Mangue, in his speech, explained briefly to those present the benefits obtained by Equatorial Guinea through American investment.
Malabo and Washington have been cooperating in the oil sector for over two decades. In this context, Nguema Obiang Mangue presented the economic potential of Equatorial Guinea, and invited entrepreneurs to invest in other sectors, presenting the new areas of cooperation included in the second part of the national development plan; to diversify the economy through industrialisation in the various sectors.
Trade between Africa and the United States represents 1.5% of American foreign trade. Despite this percentage, the United States has always been the main investor in African in recent decades.
Source: Equatorial Guinea Press and Information Office