America.gov-Economics & Trade: Open Markets

Private Investment Is Transforming African Development

Phillip Kurata — Fri, 18 Jul 2008 16:02:55 GMT

Private capital flows to Africa now exceed the region’s level of official development assistance, and that is transforming the African development process, a senior U.S. Treasury official told the seventh annual African Growth and Opportunity Act (AGOA) Forum.

Increased Global Trade Depends on Individual Governments

Phillip Kurata — Fri, 18 Jul 2008 16:14:41 GMT

Unilateral steps to reduce the time and cost needed to ship goods across international borders would cause global trade to surge, according to experts in Washington. Such steps are just as important, if not more so, than tariff liberalization, says Daniel Ikenson, an economist at the Cato Institute.

U.S. Signs Trade and Investment Agreements for African Nations

Phillip Kurata — Wed, 16 Jul 2008 17:43:13 GMT

The United States trade representative, Ambassador Susan Schwab, and her African counterparts from east and southern Africa sign two important trade and investment agreements that will further deepen and expand U.S. trade ties with those regions.

Investors See Africa as Desirable Private-Equity Destination

Phillip Kurata — Wed, 16 Jul 2008 15:49:46 GMT

Africa is seen as an increasingly desirable destination for private-equity investment, which can fuel economic development, according to investment banker Tom Gibian, speaking at the seventh annual AGOA Forum in Washington.

Rice Highlights “Sea Change” in Africa

Phillip Kurata — Tue, 15 Jul 2008 14:32:10 GMT

There has been a “sea-change” in the way Africans approach their own challenges, in America’s approach to the region and in the way the world sees today’s Africa, Secretary of State Condoleezza Rice tells the seventh annual African Growth and Opportunity Act Forum.

African Countries Seek to Preserve Africa Growth Act Gains

Phillip Kurata — Tue, 15 Jul 2008 12:07:58 GMT

Trade under the African Growth and Opportunity Act tops $80 billion annually, and Africans must strive to preserve the progress made under the landmark trade statute, Daniel Neo Moroka, Botswana’s minister of trade and industry, says at a conference.

Food and Global Markets: A Resource List

Phillip Kurata — Mon, 14 Jul 2008 14:26:18 GMT

Economic Integration of North Africa Seen to Have Multiple Benefits

Phillip Kurata — Mon, 07 Jul 2008 16:16:58 GMT

Former and current U.S. officials are keeping interest alive for an economic trading bloc comprising North African countries. A Bush administration official says the integration of North Africa is consistent with the president's goal of creating a Middle East free trade area by 2013.

Transport Costs Make U.S. Producers Think Anew About Outsourcing

Phillip Kurata — Thu, 03 Jul 2008 10:41:11 GMT

U.S. manufacturers reconsider their options as shipping costs rise and the U.S. dollar hangs low. Their decisions may slow production outsourcing but will not reverse globalization, experts tell America.gov.

South Asia Faces Food Crisis Despite India’s High Productivity

Phillip Kurata — Mon, 30 Jun 2008 09:13:41 GMT

India’s abundant resources can supply food for India and greater South Asia as well as help global markets weather the food crisis with the right management, experts say. America.gov looks at the challenges facing India as it gears up to produce even more food crops.

Chicago Forum Seeks to Link Africans, Americans in Agribusiness

Phillip Kurata — Fri, 27 Jun 2008 19:02:39 GMT

Government and private sector participants focus on building bridges and improving the business of agriculture in Africa at the 2008 U.S.-Africa Agribusiness Forum in Chicago, hosted by the Corporate Council on Africa. America.gov talks with two businessmen from different continents.

Scholars See Varied Political Implications of Food Shortages

Phillip Kurata — Fri, 20 Jun 2008 15:45:03 GMT

Political unrest and tighter repression are likely outcomes of the food shortages affecting many developing countries, but moves toward greater democracy are not expected, according to two scholars.

As the Dollar Falls, Foreign Nationals Shop for U.S. Firms

Phillip Kurata — Fri, 20 Jun 2008 14:17:21 GMT

Foreign nationals flock to the United States to buy not only iPods, laptops and other goods but also U.S. companies. Consumer purchases are driven by the low exchange rate of the U.S. dollar. Foreign investors also have other reason to buy American.

Former U.S. Aid Chief Says Agriculture Is Africa's Biggest Need

Phillip Kurata — Thu, 19 Jun 2008 09:43:54 GMT

The former head of the U.S. Agency for International Development says assistance to African agriculture has been thwarted by environmental groups and other political lobbies. Andrew Natsios says African farmers need fertilizer, pesticide, irrigation and genetically engineered seeds.

Report Finds Hong Kong and Singapore Most Open to Foreign Trade

Phillip Kurata — Wed, 18 Jun 2008 15:18:14 GMT

Hong Kong and Singapore are the most open to foreign trade of all the world's countries and entities, according to a new report. It ranks 118 countries on how well they enable the free flow of goods and investments. The report calls openness to international trade part of a "successful economic development strategy."

Food Crisis Threatens Economic Progress in Americas

Phillip Kurata — Tue, 17 Jun 2008 14:15:23 GMT

A global food crisis threatens to reverse a decade’s worth of economic progress in Latin America and the Caribbean, analysts say. One way in which the United States is responding is with a task force charged with helping people buy food in Haiti, the Western Hemisphere country hit hardest by the crisis.

Scholar Calls for Greater Investment in Agriculture

Phillip Kurata — Fri, 13 Jun 2008 18:32:11 GMT

A scholar believes the high global food prices highlight the need for long-term investment in agriculture in the poor regions of the world. Robert Paarlberg says low farm productivity, not high commodity prices, is the main reason for hunger in Africa and South Asia.

How Welcome Is Investment by Sovereign Wealth Funds?

Phillip Kurata — Thu, 12 Jun 2008 15:20:50 GMT

Large pools of capital controlled by governments in developing countries are viewed with both hope and apprehension in developed nations. The United States encourages investments in U.S. companies by sovereign wealth funds while it refines a review process of certain investment deals.

Asians Especially Vulnerable to Food Shortages and High Prices

Phillip Kurata — Thu, 12 Jun 2008 10:05:31 GMT

With more than 60 percent of the world’s undernourished people, Asia is especially vulnerable to food shortages. Along with the rising cost of food, natural disasters such as Australia’s drought and Burma’s cyclone are exacerbating crop shortfalls and increasing the dependence of many Asian countries on international food aid.

Efforts Grow to Give Garment Workers a Fair Deal

Phillip Kurata — Wed, 04 Jun 2008 13:52:03 GMT

Joe Falcone is one of a new breed of clothing merchants who sell "fair-trade apparel" -- made in factories that treat workers better than the norm in an industry known for its modern sweatshops. But experts and activists agree that improving conditions for garment workers is an uphill battle.

U.S., Europe Need Collective Energy Security Strategy

Phillip Kurata — Fri, 30 May 2008 17:09:47 GMT

It is critical that European countries develop a unified policy that promotes the diversification of its sources of energy, particularly with countries of the Caspian Basin, Central Asia, and eventually with Iraq.

Multiple Factors Drive Up Global Food Prices

Phillip Kurata — Fri, 30 May 2008 14:58:05 GMT

Multiple factors are causing the price of food to rise around the world -- bad weather, energy prices, and economic growth in India and China, among others. Grain prices are expected to fall later this year, but not to the levels they were in the past.

Palestine Investment Forum “Met Its Goal,” U.S. Official Says

Phillip Kurata — Wed, 28 May 2008 15:59:12 GMT

An investment conference in the West Bank represents a shift from recent assistance to the Palestinian Territories. It moves beyond the legacy of emergency humanitarian aid and attracts business people and government officials from around the world who want to boost the Palestinian economy.

Closer Economic Ties Benefit All Regions of China, United States

Phillip Kurata — Wed, 28 May 2008 07:57:27 GMT

U.S.-China economic cooperation benefits the development of all regions of China and the United States, not just political and economic centers, Alan Holmer, U.S. special envoy for China and the U.S.-China Strategic Economic Dialogue tells an audience at Wuhan University in China.

United States Vigorously Backs Palestine Investment Conference

Phillip Kurata — Tue, 27 May 2008 15:15:53 GMT

The U.S. government pledged loan guarantees and other aid worth millions of dollars to the West Bank Palestinian economy at the Palestine Investment Conference May 21-23. Most of the money is in the form of loan guarantees to stimulate home building, information technology and other forms of private enterprise.

U.S.-EU Aviation Talks Bring Prospect of Broader Markets

Phillip Kurata — Tue, 27 May 2008 16:38:13 GMT

The United States in partnership with the European Union wants to negotiate a multilateral agreement to make cross-border investment in airlines easier. Breaking down “the sticky spider’s web” of restrictions in bilateral agreements would remove a major hindrance to such an investment.

Leon H. Sullivan Summit VIII Billed as “Summit of a Lifetime”

Phillip Kurata — Thu, 22 May 2008 10:15:33 GMT

The Leon H. Sullivan Foundation’s June 2-6 summit in Tanzania will explore a variety of themes -- including investment, infrastructure, tourism and conservation -- in the context of U.S.-Africa partnership, according to the foundation’s vice president, Gregory B. Simpkins, who outlines the summit’s agenda.

Global Grain Production Expected to Increase in 2008

Phillip Kurata — Thu, 22 May 2008 17:04:29 GMT

Global agricultural commodity production is expected to increase 2.6 percent to a record level in 2008, but the forecast depends on favorable weather. Yet near-term commodity prices are expected to remain high as the result of a combination of pressures on world food markets.

U.S.-African Science Partnership Could Lead to Greater Development

Phillip Kurata — Thu, 22 May 2008 11:36:35 GMT

Africans should “take the initiative” to build Africa’s science and technology sector and stimulate economic growth and development, according to Osama O. Awadelkarim, an engineering professor at Penn State University. He talks with America.gov in advance of a two-day science and technology workshop in Tanzania.