H.R.1103 - Increasing American Jobs Through Greater Exports to Africa Act of 2015114th Congress (2015-2016)
|Sponsor:||Rep. Smith, Christopher H. [R-NJ-4] (Introduced 02/26/2015)|
|Committees:||House - Foreign Affairs; Ways and Means; Small Business; Financial Services|
|Latest Action:||House - 03/27/2015 Referred to the Subcommittee on Trade. (All Actions)|
This bill has the status Introduced
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Summary: H.R.1103 — 114th Congress (2015-2016)All Information (Except Text)
Introduced in House (02/26/2015)
Increasing American Jobs Through Greater Exports to Africa Act of 2015
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) encouraging a greater understanding among U.S. business and financial communities of the opportunities Africa holds for U.S. exports, and (5) fostering partnership opportunities between U.S. and African small- and medium-sized enterprises.
Requires the President to designate a Special Africa Export Strategy Coordinator.
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.
Directs the Secretary to ensure that at least 10 total U.S. and Foreign Commercial Service officers are assigned to U.S. embassies in Africa for each of the first 5 fiscal years after 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; 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 of the United States employees dedicated to expanding business development for Africa and assigned to bank field offices in Africa and the United States, and (2) Overseas Private Investment Corporation (OPIC) staff needed to promote stable and sustainable economic growth and development in Africa as well as to help U.S. businesses to expand into African markets.
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 economic officers with respect to Bank, OPIC, Small Business Administration , and U.S. Trade and Development Agency programs and procedures.
Expresses the sense of Congress that foreign export credit agencies are providing non-Organization of Economic Co-operation and Development (OECD) arrangement compliant financing in Africa that is trade distorting and threatens U.S. jobs.
Amends the Export-Import Bank Act of 1945 to direct the Bank to increase the amount of loans, guarantees, and insurance for projects in Africa. Requires the Bank to report annually to Congress if it has not used at least 10% of such loans, guarantees, and insurance for projects in Africa.
Directs the Bank to make Bank capitalization available annually 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.
Amends the Small Business Act to require the Associate Administrator of Small Business for International Trade to work closely with the Trade Promotion Coordinating Committee , among others, in maintaining a trade distribution network.
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.