On Monday, the US-Africa Trade Council announced its change of name to the US-Africa Trade Commission, a significant step aimed at strengthening bilateral trade relationships between the United States and Africa.
In its statement made available to BusinessDay, it said that the name change was necessitated by its broader commitment to fostering enduring economic partnerships and driving sustainable growth across the African continent.
The organisation registered in the State of Georgia, United States, as a non-profit organisation added that its name change represents a strategic evolution reflecting an expanded scope and unwavering dedication to promoting mutual economic benefits between the United States and Africa.
The statement partly read, “The U.S.-Africa Trade Commission, registered in the State of Georgia, United States, as a non-government, non-profit organisation, will continue to serve as a prominent platform for collaboration, dialogue, and partnership between government, business, and civil society sectors.
“Through its newly redefined mission, the commission aims to create innovative solutions that address key challenges, remove trade barriers, and unlock economic potential for both the United States and Africa.
“This rebranding reinforces the organisation’s deepened dedication to expanding its influence in fostering economic growth and collaboration.”
It stated some of the foreseeable benefits of the name change, which include taking on more higher-level policy advocacy, which should lead to better innovative trade-related initiatives “that can benefit both the public and private sectors.”
Another benefit, especially for Nigeria and most of Africa, is that the name change will enable the commission to “support activities that promote trade and investment across sectors such as agriculture, technology, energy, infrastructure, manufacturing, and beyond.”
The Commission will help companies that want to do business in new places by giving them advice, helpful information, and support with dealing with the challenges of trading between different countries.
Titus Olowokere, the Executive Director/CEO at the U.S.-Africa Trade Commission, expressed enthusiasm about the transformation, emphasising that the elevation to a commission emphasises their commitment to fortifying trade ties between the regions.
“The change to the U.S.-Africa Trade Commission represents an exciting evolution for our organisation,” stated Olowokere. “We firmly believe that elevating our status to a commission underscores our commitment to fostering stronger trade relationships between the United States and Africa.”
Raju Chandrasekar, a member of the Board of Governors at the Commission, echoed this sentiment, highlighting their dedication to advancing trade relationships and advancing a prosperous future for both the United States and Africa.
He said, “We remain dedicated to supporting initiatives that drive economic growth, create jobs, improve the lives of millions of people across both continents, and promote sustainable development for our respective regions. The rebranding as the Trade Commission represents our commitment to advancing this vision and our confidence in the prospects for a prosperous and sustainable future for both the United States and Africa.”
