WASHINGTON (Dec. 14, 2022) — The Millennium Challenge Corporation (MCC) took center stage at today’s U.S.-Africa Business Forum as the United States, Benin, and Niger governments signed the first-ever MCC regional program — the $504 million Benin-Niger Regional Transport Compact.
The agreement was brokered by the African Union (AU) and was signed by 44 of its 55 member states in Kigali, Rwanda on March 21, 2018. The only country still not to sign the agreement is Eritrea, which has a largely closed economy.
Arab-African trade has enormous potential but is held back by a number of bottlenecks. The Second Arab-Africa Trade Forum in Cairo revealed new ways to take trade forward.
The Canada-Benin Foreign Investment Promotion and Protection Agreement includes an article on corporate social responsibility, which Canada now aims to include in all its future FIPAs.