Officially launching the initiative in Gaborone last Thursday, US Ambassador to Botswana Stephen Nolan said he strongly believed that increased trade is key to achieving greater economic growth and poverty reduction in the region. "It is particularly important to address the challenge of food security in many countries. I am confident that this expanded engagement by the US in promoting competitiveness and regional trade will have a deep, long-lasting and positive effect," he said.
The hub was originally established by the United States Agency for International Development (USAID) in 2002 with the goal of enhancing exports under the US-Africa Growth and Opportunities Act (AGOA), but has over the years expanded its scope of activities to support new initiatives within the region. In recent years, the Trade Hub has supported implementation of the SADC free trade agreement as well as assisting in modernising customs procedures and improving the flow of goods along transport corridors. It has also helped the SADC countries to develop bond markets and remove regulatory barriers to greater investment in the energy sector. It has had its headquarters temporarily in Gaborone since its inception.
