UPPER MARLBORO, MD Prince George’s County Executive Jack Johnson, along with U.S. Senator Benjamin L. Cardin (D-MD), county officials and business leaders, announced today funding for a new Prince George’s County Africa Trade Office.
"I would like to thank Senator Cardin for supporting the new Prince George’s County Africa Trade Office and for understanding that the global marketplace of the future means internationalism," Johnson said. "The resources you are providing will advance bilateral trade and commerce between Africa and county businesses, while adding more jobs and investment opportunities for our county."
Cardin presented Johnson with a check, representing the $400,000 grant, to develop and implement the creation of the county’s new Africa Trade office. The Office will be housed at the Prince George’s County Economic Dev. Corp. (EDC) and will partner with the Small Business Administration (SBA) and the county to help facilitate business between African companies and small businesses seeking trade opportunities.
"We are part of a global economy and Prince George’s County has a strong, vibrant business community interested in expanding trade opportunities with Africa," said Senator Cardin, a member of the Senate Small Business Committee. "In securing these funds for the Africa Trade Office, I am optimistic that Prince George’s County businesses will be able to build and grow these future trade opportunities."
The Prince George’s County Africa Trade Office will build on opportunities presented since enactment of the African Growth and Opportunity Act (AGOA) in 2000. AGOA provides reforming African countries with the most liberal access to the U.S market without a Free Trade Agreement. It has been successful in increasing two-way trade with African and diversifying products to be traded. Since 2001, non-oil AGOA imports total $3.5 billion, an increase of 22 percent.
Today, Africa has a critical housing shortage and lags far behind in computer and communications technology. Prince George’s County’s businesses are uniquely qualified to assist in future African development in these sectors. African countries interested in trading opportunities with Prince George County include: Liberia, Nigeria, Ghana, Senegal, Tanzania and South Africa.