US Exim and the government of Angola have signed a memorandum of understanding (MOU) to boost both countries’ collaborative efforts in financing US exports to Angola.
Under the terms of the MOU, both US Exim and the Angolan finance ministry agree to exchange information on trade and business opportunities to better enable both state-owned and private sector firms in Angola to procure US goods and services.
The agreement was signed between US Exim president, Fred Hochberg, and the Angolan finance minister, Armando Manuel, at the three-day US-Africa Leaders Summit in Washington DC. The summit, attended by government representatives from across Africa, aims to strengthen trade links between the continent and the US.
“US Exim financing can assist Angolan buyers in purchasing almost any kind of ‘Made in the USA’ product or service to meet their needs,” says Hochberg. “Those purchases will contribute to job growth and an infrastructure built to last in Angola as well.”
More than US$5bn of financing for US exports to Sub-Saharan Africa has been authorised by US Exim in the past five years. In the first 10 months of FY 2014, a record US$1.7bn of US exports has been authorised.