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STATEMENT BY THE PRESIDENT
Africa Trade Bill
In this year's State of the Union Address, I asked
Congress to support an initiative to strengthen economic ties to Africa. Today,
I am pleased that Congress has taken an important step forward on legislation
that will open a new era of U.S.-African trade and investment relations. The
strong bipartisan vote in the House in support of the African Growth and
Opportunity Act offers the way for a brighter future for Africa.
The United States has a vital stake in a stable, prosperous
Africa. Later this month, when I travel to Africa, I will deliver the message
that the United States stands ready to be a partner in Africa's prosperity. A
majority of sub-Saharan Africa's 48 countries have adopted market-oriented
economic and political reforms in the past seven years. A stronger, stable,
prosperous Africa will be a better economic partner, a better partner for
security and peace, and a better partner in the fight against the new
transnational threats of drug trafficking, crime, terrorism, the spread of
disease and environmental degradation. This bill -- by significantly broadening
market access, spurring growth in Africa, and helping the poorest nations
eliminate or reduce their bilateral debt -- would help African nations that are
committed to undertake difficult economic reforms to build better lives for
their people.
We have an historic opportunity to support the renaissance in
Africa. I want to commend Speaker Gingrich, Chairman Archer, Congressman
Rangel, Congressman McDermott, Congressman Crane, Chairman Gilman, Congressman
Hamilton, Congressman Payne, Congresswoman McKinney, Congressman Jefferson,
Congresswoman Jackson Lee, Congresswoman Waters, Congressman Royce, Congressman
Menendez, and all those who have devoted themselves to helping that
transformation. I look forward to working with the Senate to enact this
landmark legislation as quickly as possible.
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