§6 United States Investment and Trade.

Summary

The law says the President should immediately begin negotiating a tax treaty with South Africa to make it easier for U.S. companies to invest there. The President should also start talks with South Africa to let the Overseas Private Investment Corporation (now the United States International Development Finance Corporation) run programs that expand U.S. investment. The Director of the Trade and Development Agency should provide extra funds for projects in South Africa under section 661 of the Foreign Assistance Act of 1961 (22 U.S.C. 2421). The Export-Import Bank should increase its work connected with exports to South Africa. The agencies named above must actively try to use their programs to help South African businesses that are majority-owned by people harmed by apartheid. To the extent this does not conflict with U.S. international obligations, the Secretary of State and other U.S. agency heads working in South Africa should, as much as practicable when buying goods or services, make efforts to assist businesses with more than 50 percent beneficial ownership by Black or other nonwhite South Africans, even if other U.S. government contract laws apply.