Washington's Africa interest

US and African political leaders and business grandees will gather on Wednesday in South Africa for a summit on strengthening trade and investment links between sub-Saharan Africa and its largest trading partner.

US Treasury Secretary Henry Paulson will attend, emphasising Washington's keenness to promote its image as a growing destination of African exports.   Trade is certainly rising: US exports to sub-Saharan Africa doubled to over 12 billion dollars between 2003 and 2006, while imports from the region rose from 25.6 billion to 59.1 billion dollars. Nevertheless, it is oil that accounts for much of this trade.  In 2006, 80.6% of US imports from the region came from major oil exporters: Nigeria (47.2%), Angola (19.8%), Republic of Congo (5.2%), Chad (3.2%), Equatorial Guinea (2.9%) and Gabon (2.3%).  In terms of non-oil exporters, South Africa alone accounted for 12.7% of remaining imports from the region. 

Washington aims to increase its oil supplies from the region.  US policymakers, including Paulson, are aware of China's growing role as a trade partner and destination for African natural resources.  Despite the wide variety of topics set for discussion, the summit will be dominated by the question of US and Chinese competition for trade with the region.

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