President Obama pledged that the United States will focus on increasing trade with Africa even after he leaves office.
“The United States is determined to be that partner for the long term,” Obama told the U.S.-African Business Forum Wednesday during a special convening at the United Nations General Assembly.
Since the organization launched with a summit in Washington in August 2014, American and African businesses have inked deals worth $15 billion, Obama said. On Wednesday, he announced an additional $9.1 billion in new business commitments.
U.S. trade with Africa has increased 70 percent since the first summit, Obama said. “This is the U.S.-Africa Business Forum; this is not charity,” Obama stressed.
“We’re making progress but we’re just scratching the surface,” he said, noting that the entire continent’s gross domestic product still only equals that of France.
He encouraged African leaders to join the U.S.-led open government and transparency programs to tamp down the continent’s rampant corruption.
“Business should begin with a handshake, not a shakedown,” Obama said.
He promised to maintain his involvement with the group after leaving office. “I think you can anticipate that I will continue to work with all of you,” he said.
