Schneidman said his organization is working on mechanisms to foster cooperation between the U.S., China and Africa. This could include a permanent trilateral body to address trade, financing and other issues; stakeholder working groups to train Africans and introduce new technologies; and forums to address development, peace and security issues. "Global interest in Africa has never been higher, and Africa needs to seize this attention for its long-term benefit," Schneidman said.
The Chamber's Harris noted China's aggressive export promotion in Africa, often linking the purchase of Chinese goods and services to the building of roads and other infrastructure. He called for greater engagement by U.S. companies in Africa, and warned of some negative aspects of Chinese exports, including counterfeit products and theft of intellectual property.
Carroll of Manchester Trade, Ltd., saw China's 20-30-year financing terms and other aggressive marketing strategies as a "real threat" to U.S. commercial interests. But he added, "Here's the good news: Africa's rapid growth offers new opportunities; the U.S. enjoys technology dominance in areas including aviation, transportation and environmental exports; and we can look for new ways to collaborate with China on our respective strengths."
Carroll called on the U.S. and Africa to hold China accountable for leveling the playing field by observing World Trade Organization (WTO) rules, and "maybe also the OECD (Organization for Economic Cooperation and Development) rules."
Ex-Im Bank Vice Chair Linda Conlin also stressed the urgency of "doubling our efforts to get more U.S. companies to Africa."
Jim Cruse, Ex-Im Bank senior vice president, Office of Policy and Planning, said efforts are underway to improve Ex-Im Bank's financing competitiveness due, in part, to SAAC proposals that were included in Ex-Im Bank's 2006 Competitiveness Report to the U.S. Congress: "These proposals shed a light on issues that has facilitated incremental progress."
For example, Cruse noted that many ECAs are coming to share the SAAC's concern with the inability to charge fees for solid corporate borrowers that are lower than sovereign (government) fees.
Export-Import Bank of the United States
marketing@alchempro.com
