[Weekly Compilation of Presidential Documents Volume 41, Number 29 (Monday, July 25, 2005)]
[Page 1185]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Videotaped Remarks to the African Growth and Opportunity Act Forum

June 30, 2005

    On behalf of America, I send greetings to the people of all the 
African nations represented at the AGOA Forum. I am grateful to all of 
you who have traveled far to discuss our shared vision for an Africa 
that is home to democracy, prosperity, and opportunity.
    This is a hopeful moment in the history of Africa. The governments 
of many African nations are being transformed. Many African economies 
are vibrant and growing. In Sub-Saharan Africa as a whole, economic 
growth is now at its highest level in 8 years.
    An important part of Africa's rising prosperity is the African 
Growth and Opportunity Act or AGOA. This wise legislation is reducing 
barriers to trade, increasing exports, creating jobs, and expanding 
opportunity for Africans and Americans alike.
    AGOA is getting results. Political reforms in Africa have inspired 
confidence among American investors. Last year, U.S. exports to Sub-
Saharan Africa increased 25 percent, and America's imports from AGOA 
countries rose 88 percent. The success of AGOA is proving that open 
trade and international investment are the surest and fastest ways for 
Africa to make progress. So last year, I was proud to sign a law 
extending the benefits of this vital program.
    Over the next several days, you will discuss further ways to expand 
and diversify trade so we can sustain economic growth. I am confident 
that your efforts will lead to greater interest and investment in AGOA 
nations. You will also be offered practical information about meeting 
U.S. export requirements and entering U.S. markets. As part of America's 
long-term commitment to increased trade with Africa, I intend to launch 
the African Global Competitiveness Initiative, which will give a record 
number of entrepreneurs access to the information and advice they need 
to succeed in business and foreign trade.
    I appreciate the good work you are doing, and I look forward to our 
continued partnership on AGOA. Africa is a continent of promise and 
talent and opportunity, and together we will help the people of Africa 
realize the bright future they deserve.
    Thank you very much.

Note: The President's remarks were videotaped on June 30 at 4:10 p.m. in 
the Map Room at the White House for later transmission to the forum 
meeting in Dakar, Senegal. The transcript was released by the Office of 
the Press Secretary on July 19. A tape was not available for 
verification of the content of these remarks.