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US business community still upbeat about South Africa, Africa
Sentiment within the US business community was very bullish about South Africa and the African continent, it was reported on Thursday.

This is despite of worries about skills, competitiveness and regulatory environment in South Africa, according to I-Net Bridge.

The website cited US Senator Christopher Coons (Delaware), who was speaking at the launch of the US-SA Business Council.

I-Net Bridge quoted Coons as saying: “The challenges raised by US businesses were not insurmountable and that they could be addressed.”

The US-SA Business Council seeks, among other objectives, to enrich investment and trade between SA and the US.

It will operate in partnership with the American Chamber of Commerce and local business organisations including the Black Business Council‚ Business Unity SA‚ and Business Leadership SA.

Turning to the African Growth and Opportunity Act (AGOA)‚Coons said they “fully endorse” the “re-authorisation” of the Act‚ which has helped many sub-Saharan African countries export goods to the US duty free. AGOA is set to end in 2015.

A recent survey that sampled 80 American companies indicated that their investments in SA totalled R233bn by last year.

These companies are reported to directly and indirectly employ some 145 000 people.

I-Net Bridge reports that Coons is leading a delegation of business people and politicians on a trade and investment mission in Africa. They have already visited other African countries‚ including Mali‚ before arriving in SA.

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Date: 2013-02-21 | Source: Ventures

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