IBA Article: US-Africa trade: time for a rethink
Evelyn Suarez was heavily quoted in a recent article posted on the International Bar Association website entitled “US-Africa trade: time for a rethink.” Excerpts from the article appear below, for the full text please visit the IBA website.
The value of US trade with Africa is declining, while China’s is booming. Global Insight analyses why the US is struggling to trade on a large scale with Africa and assesses what impact the Ebola outbreak has had.
By Mayeni Jones
Dispensing with formalities
“I think the underlying concern or urgency about improving the economic situation in Africa relates to security,” says international trade lawyer and policy expert Evelyn Suarez. “That’s the underlying motivation, but at the same time it’s the impediment. The [US] government is trying to promote trade and investment in a place that is quite diverse, with a growing middle class, but other areas have conflict. Then you have the other issues of inefficiencies and red tape at the border and corruption and that makes it difficult for US companies to venture out into Africa. So it’s a very complicated issue for American companies. Public companies have to protect shareholder value and so they have to mitigate the risks.” Click here for the full text