[Congressional Record Volume 145, Number 18 (Tuesday, February 2, 1999)]
[Extensions of Remarks]
[Pages E100-E101]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                   AFRICAN GROWTH AND OPPORTUNITY ACT

                                 ______
                                 

                          HON. PHILIP M. CRANE

                              of illinois

                    in the house of representatives

                       Tuesday, February 2, 1999

  Mr. CRANE. Mr. Speaker, today I join with 65 of my colleagues in 
reintroducing bipartisan legislation that the House passed last year to 
firmly establish sub-Saharan Africa on the U.S. trade and investment 
policy agenda.
  Overall, the African Growth and Opportunity Act represents a trade-
centered approach to development that will complement traditional forms 
of assistance. Increased U.S.-African trade and investment is a win-win 
proposition, one that can facilitate and strengthen the development of 
sub-Saharan African countries and create opportunities for U.S. firms 
and workers. Already, U.S. exports to the sub-Saharan region exceed by 
20 percent those of all the former Soviet states combined. Sub-Saharan 
Africa is a continent with vast opportunities for U.S. companies and 
many U.S. businesses

[[Page E101]]

are poised to increase trade and investment in sub-Saharan Africa.
  At the same time, a strong trade and investment relationship between 
the countries of sub-Saharan Africa and the United States will reduce 
poverty and expand economic opportunity in Africa. Moreover, a 
stronger, more stable and prosperous Africa will be a better partner 
for security and peace in the region and a better ally in our mutual 
fight against narcotics trafficking, international crime, terrorism, 
the spread of disease, and environmental degradation.
  Some 30 sub-Saharan countries have begun dynamic economic reform 
programs, including liberalizing exchange rates and prices, privatizing 
state-owned enterprises, ending costly subsidies, and reducing barriers 
to trade and investment. The African Growth and Opportunity Act is 
designed to complement economic reforms such as these which African 
nations have decided to pursue by creating greater opportunities for 
partnerships between Americans and Africans.
  Specifically, the bill offers increased access to the U.S. market for 
non-import sensitive goods and increased dialogue with the United 
States on deepening our trade relationship. The benefits available 
under the bill provide incentives for the most aggressive reformers to 
liberalize their markets even further. This legislation would not 
impose new conditions for maintaining existing trade and aid benefits. 
However, to qualify for enhanced trade benefits, the African Growth and 
Opportunity Act requires that countries make continual progress toward 
achieving the bill's market-based criteria. For countries that choose 
to follow this course, the bill requires the President to develop a 
plan to solidify our economic partnership through the creation of a 
United States-Sub-Saharan African Free Trade Area.
  The African Growth and Opportunity Act is strongly supported by 
political and economic leaders across sub-Saharan Africa. Every African 
Ambassador in Washington, D.C. has endorsed this bill. Never before 
have the 48 diverse nations in the region been united in support of 
such an initiative. In addition, the African Growth and Opportunity Act 
has a high profile throughout the continent and the response has been 
clear--Africans want to be trading partners with the United States and 
the world.
  In order to continue to grow, African economies need to have enhanced 
access to U.S. markets, capital, management expertise, and technology. 
The bill is the first step toward making that happen and is a long 
overdue response to change led by Africans themselves across the 
continent. I urge my colleagues to support this historic legislation 
when it is considered on the House floor in the coming weeks.

                          ____________________