For one, the African market is not on the radar screen of the American business community.

In fact, the U.S. is effectively ceding the African marketplace to companies from China, India, Brazil, Russia, Turkey, the European Union and elsewhere.

Apart from the natural resource sector and some recent investments by major companies such as GE, Symbion, Wal-Mart, Microsoft and Proctor & Gamble, only one percent of U.S. foreign direct investment worldwide is in Africa, and half of this is in extractive industries, according to the Congressional Research Service.

Last year, U.S. exports to Africa were just over $22 billion - about two percent of U.S. exports worldwide. While the volume may be small, these exports support more than 100,000 jobs in the United States, according to the U.S. Commerce Department.

Not only is this trade transforming the U.S.-African commercial relationship into a more genuine partnership, it raises the immediate question of how to accelerate U.S. trade and investment with Africa so that more American workers and companies derive a direct benefit.

As Senator Chris Coons writes in the preface to his March 7 report, Embracing Africa’s Economic Potential, “Engagement with Africa is critical to America’s economic interests in the years ahead. Meeting Africa’s growing demand with American goods and services will strengthen our economy, help U.S. businesses grow and create jobs here at home.”

Ed’s note: The US needs Africa more than Africa needs the US. Notice the rise in ‘South - South’ trade with BRICS nations and other emerging markets.