S.2215 - Increasing American Jobs Through Greater Exports to Africa Act of 2012
A bill to create jobs in the United States by increasing United States exports to Africa by at least 200 percent in real dollar value within 10 years, and for other purposes. view all titles (3)
All Bill Titles
- Short: Increasing American Jobs Through Greater Exports to Africa Act of 2012 as reported to senate.
- Official: A bill to create jobs in the United States by increasing United States exports to Africa by at least 200 percent in real dollar value within 10 years, and for other purposes. as introduced.
- Short: Increasing American Jobs Through Greater Exports to Africa Act of 2012 as introduced.
This Bill currently has no wiki content. If you would like to create a wiki entry for this bill, please Login, and then select the wiki tab to create it.
- Today: 1
- Past Seven Days: 3
- All-Time: 908
Official SummaryIncreasing American Jobs Through Greater Exports to Africa Act of 2012 - (Sec. 4) Directs the President to establish a comprehensive U.S. strategy for public and private investment, trade, and development in Africa (including the Republic of South Sudan) that focuses, among other things, on
Official SummaryIncreasing American Jobs Through Greater Exports to Africa Act of 2012 -
(Sec. 4)Directs the President to establish a comprehensive U.S. strategy for public and private investment, trade, and development in Africa (including the Republic of South Sudan) that focuses, among other things, on:
(1) increasing exports of U.S. goods and services to Africa by 200% in real dollar value within 10 years;
(2) promoting the alignment of U.S. commercial interests with development priorities in Africa;
(3) improving the competitiveness of U.S. businesses in Africa;
(4) monitoring market loan rates and the availability of capital for U.S. and foreign government investment in Africa, including predatory or market-distorting export financing policies of foreign governments; and
(5) encouraging a greater understanding among U.S. business and financial communities of the opportunities Africa holds for U.S. exports.
(Sec. 5)Requires the President to designate a Special Africa Export Strategy Coordinator to:
(1) oversee the development and implementation of that strategy, and
(2) coordinate with the Trade Promotion Coordinating Committee (TPCC), the interagency African Growth and Opportunity Act (AGOA) committees, and development agencies with respect to developing and implementing the strategy.
(Sec. 6)Expresses the sense of Congress that the Secretary of Commerce and other high-level U.S. officials with responsibility for export promotion, financing, and development should conduct a joint trade mission to Africa.
(Sec. 7)Directs the Secretary to ensure that at least 12 total U.S. and Foreign Commercial Service officers are assigned to U.S. embassies in Africa for each of the 5 fiscal years following enactment of this Act. Requires the Secretary to assign at least one full-time officer to the office of the U.S. Executive Director at the World Bank and the African Development Bank to:
(1) increase access of U.S. businesses to procurement contracts with the bank to which the officer is assigned; and
(2) facilitate access of such businesses to risk insurance, equity investments, consulting services, and lending provided by the bank. Prescribes increases in the number of:
(1) Export-Import Bank staff who spend the majority of the year based in Africa;
(2) business development trips the Bank conducts in Africa to meet specified goals;
(3) Bank employees assigned to U.S. field offices of the Bank in Africa and the United States; and
(4) Overseas Private Investment Corporation (OPIC) staff needed to promote stable and sustainable economic growth and development in Africa, strengthen and expand the private sector in Africa, and help U.S. businesses to expand into African markets. Prohibits any construction of this section as permitting the reduction of Department of Commerce, Department of State, Export Import Bank, or OPIC personnel or the alteration of planned personnel increases in other regions, except where a personnel decrease was previously anticipated or where decreased export opportunities justify personnel reductions.
(Sec. 8)Directs the President to develop a plan for standardized training of all U.S. and Foreign Commercial Service officers, Department of State economic officers, and U.S Agency for International Development (USAID) economic officers with respect to Export-Import Bank, OPIC, Small Business Administration (SBA), and U.S. Trade and Development Agency programs and procedures. Requires the President to ensure that, within one year after enactment of this Act, all U.S. and Foreign Commercial Service officers stationed overseas or, in countries to which no such officers are assigned, Department of State economic officers stationed in such countries receive this training.
(Sec. 9)Declares the sense of Congress that foreign export credit agencies are providing non-Organization for Economic Co-operation and Development (OECD) arrangement compliant financing in Africa, and that in order to counter such actions and ensure U.S. jobs, the Export-Import Bank should provide timely financing to meet such terms, as appropriate. Amends the Export-Import Bank Act of 1945 to require the Bank to increase the amount it finances to Africa over the prior year's financing for each of the first five fiscal years beginning after enactment of this Act. Requires the Bank to report annually for five years to specified congressional committees if it has not used at least 10% of its lending capabilities for projects in Africa. Directs the Bank to make available annually any amounts necessary for loans that counter trade distorting non-OECD arrangement compliant financing or preferential, tied aid, or other related non-market loans offered by other nations for which U.S. companies are also competing or interested in competing. Requires the Bank to report annually for five years to specified congressional committees if it has not used at least $250 million annually for loans that counter non-OECD arrangement compliant financing offered by other nations to their firms.
(Sec. 10)Amends the Small Business Act to require the Associate Administrator of Small Business for International Trade to work closely with the TPCC, among others, in maintaining a trade distribution network.
(Sec. 11)Directs the President to explore opportunities to negotiate bilateral, subregional, and regional agreements to encourage trade and eliminate nontariff barriers to trade between countries (including Africa), such as negotiating investor friendly double-taxation treaties and investment promotion agreements. Requires the President to ensure that any existing agreement between the United States and an African country is being implemented in a manner that maximizes the positive effects for U.S. trade, export, and labor interests as well as the economic development of the countries in Africa.
...Read the Rest