What is the volume of imports from Africa to U.S. annually?
According to Statista 2022, growth in the U.S. import volume of trade goods from Africa from 1997 to 2021. In 2021, U.S. imports from Africa amounted to approximately 37.56 billion U.S. dollars.
How to export from Africa to U.S.?
There are two major ways in which your goods can enter the United States: as a formal entry, also called a commercial entry, or as an informal entry. Most exports enter the U.S. as a formal entry, for which U.S. customs regulations require the use of a U.S. customs broker. Informal entry does not require a broker if the shipment is accompanied by the exporter, or if the consignee comes to the port of entry to collect it.
How can we improve the export trade between two continents?
- According to UNCTAD, the facilitation of compliance with non-tariff measures and the provision of information on customs procedures will increase trade between two continents.
- Implementing the African Continental Free Trade Area should be complemented by the implementation of the Action Plan for Boosting intra-African Trade to promote trade facilitation and the building of productive capacities. This method can be applied in boosting trade between two continents.
- The African Continental Free Trade Area and its five operational instruments, namely, on the monitoring and elimination of non-tariff barriers, the online negotiating forum, the harmonization of rules of origin, the African Trade Observatory (a trade information portal) and a digital payment system, are expected to unlock untapped trade opportunities across countries.
- Development and modernization of infrastructure, export-orientatedbusinessesas well as for supporting businesses.
Organizations Responsible for Import from Africa to U.S.
- AGOA: The U.S.-Africa Trade Program: Launched in 2000, AGOA is a preferential trade program that allows countries in sub-Saharan Africa to export products to the United States tariff-free.
- International Chamber of Commerce: They outline who is responsible for packaging the goods, arranging transportation, and paying import duties.
- United Nations Conference on Trade and Development
- International Maritime Organization
- United Nations Commission on International Trade Law