Updates
QR code: Mwakilishi app on Google PlayGet the Mwakilishi appFree on Google PlayKenya diaspora news on your phone, free on Google Play. Scan the code with your phone's camera to install.Get the app
AdvertisementTop banner · 970×90 / 728×90
Business

Kenyan and US Officials to Hold Discussions on Strategic Trade and Investment Partnership

Kenyan and US Officials to Hold Discussions on Strategic Trade and Investment Partnership

Trade representatives from Kenya and the US are set to hold an in-person first round of conceptual discussions under the Strategic Trade and Investment Partnership (STIP) in Washington, DC, from February 6th to 10th.

AdvertisementIn-article ad

The US delegation will be led by Assistant Trade Representative Connie Hamilton and will include representatives from several other government agencies, the Office of the US Trade Representative said in a press release.

The two nations launched the Strategic Trade and Investment Partnership (STIP) in July last year to replace an agreement President Donald Trump's administration had inked with Kenya.

Under the STIP, Kenya and the US agreed to start work to develop a roadmap for engagement in 10 key areas including agriculture, anti-corruption, digital economy, environment, climate change, transparency, good regulatory practices, MSMEs, workers’ rights, and youth and women participation.

The two countries had commenced talks in July 2020, with a view to drafting a comprehensive agreement that would act as a model for similar trade pacts between the US and other African countries.

Kenya is keen to ink a trade deal with the US ahead of the expiry of the Africa Growth and Opportunity Act (Agoa) in 2025. AGOA gives Kenya and 40 other sub-Saharan African countries duty-free access to the US market for over 6,000 products.

Kenya’s exports to the US grew by 47 percent to Sh38.8 billion in the first half of 2022, surpassing Uganda to become the largest market for Kenyan goods.

The country exported Sh59.6 billion worth of goods to the US in 2021, mainly apparel, macadamia nuts, coffee, tea and titanium ores, according to the Congressional Research Service. On the flip side, the US exported goods valued at Sh84 billion in the year, with aircraft, plastics, machinery and wheat among the biggest categories.

 

Comments

Comments are reviewed before they appear. Please keep it respectful.

No comments yet — be the first.

AdvertisementMore stories (Google matched content)

More from Business