Ed Royce: “this legislation will promote economic growth in Latin America and in Africa. It is going to promote American national…”

“this legislation will promote economic growth in Latin America and in Africa. It is going to promote American national security. Last year, the African Growth and Opportunity Act was signed into law. It was bipartisan legislation. For the first time, our country stated its interests and established a meaningful policy to trade with the nations of Africa. The U.S. Government and, more importantly, the U.S. private sector have begun to treat Africa as a place to do business; and this bill will help further. As chairman of the Subcommittee on Africa, I am pleased to report this legislation is having a profoundly positive impact on Africa. Several of the African countries that are making the market reforms required in the bill are attracting levels of foreign investment, and they are importing well beyond expectations. In these countries, desperately needed jobs are being created as more jobs are being created overall in the United States as a result. It is strengthening the rule of law in Africa. The bolstering of the rule of law and economic reforms are good for Africa, and they are good for the U.S. U.S. exports to Africa are up since it went into effect, and there is a national security gain for us. Yesterday, I chaired a hearing on Africa's role in the fight against global terrorism. One witness described the continent as the soft underbelly in the fight against terrorism.”