Background
Commerce for the New Millennium
“Over the past two decades Prince George’s County has evolved as a gateway for African immigrants to the American middle class. Now the county is building a bridge to their homelands that it hopes will lead to new business.” (Trading Places, Washington Post, March 24, 2008)
It is the vision and insight of U.S Senator Benjamin Cardin (D-Md) and Prince George’s County Leadership to link the region with the continent of Africa. In March 2008, The Africa Trade Office was created through the efforts of the two leaders as it was announced that the Prince George’s County Economic Development Corporation would receive grant funding administered through the U.S. Small Business Administration for The Africa Trade Office. The official opening ceremony was held in the Fall 2008.
The mission of the ATO is to identify trade and investment opportunities and facilitate strategic partnerships, teaming and deal closure between African companies and U.S. companies. The Africa Trade Office has the following objectives:
- Expand trade between SME import/export businesses in the U.S. and targeted countries in Africa;
- Offer specialized training, market research, one-one counseling, teaming opportunities, trade and investment opportunities, evaluation of business needs and business support,access to capital and deal development through workshops, seminars, information sessions and certificate training courses. (Export One:Africa!);
- Establish partnerships between US African businesses and non-African businesses to match with African SMEs on the continent;
- Increase the number of partnering agreements with large companies (for mentoring and sub-contract procurement opportunities and tenders);
- Market international office and warehouse space to African SMEs making initial entry to U.S. markets as a lower cost business location option; and
- Improve capacity of African SMEs to export and to become viable partners.
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