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International

BRIEFLY

November 29, 1993|From Times Staff and Wire Reports

South Africa, U.S. Set to Sign Economic Accord: U.S. Commerce Secretary Ron Brown said he expects an agreement to be signed Tuesday that will encourage American companies to invest in South Africa. The deal will allow South Africa to get assistance from the U.S. Overseas Private Investment Corp. (OPIC), which provides loan guarantees or insurance to U.S. companies investing in developing and emerging markets. "There is no question that an OPIC agreement in place will raise the comfort level, the confidence of American businessmen and women in doing business with South Africa," Brown said at a news conference in Johannesburg. Brown is the highest ranking U.S. trade official to visit since the 1970s.

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