Home ECONOMY Kenya-US eye new trade agreements next week – KBC

Kenya-US eye new trade agreements next week – KBC

by biasharadigest
Kenya-US eye new trade agreements next week

KBC-survey-feedback-poster

Kenya will be seeking to secure her exports to the United States under preferential terms as well as initiate new trade pacts this week.

President Uhuru Kenyatta who is expected to attend the 68th US National Prayer Breakfast meeting will be leading the Kenyan delegation in among others seeking to have in place a trading arrangement that guarantees continued market access for Kenya’s products to the US market after the African Growth and Opportunity Act-AGOA comes to an end in the year 2025.

During the meeting, the cabinet acknowledged that the negotiations would help Kenyan goods have smooth access to the expansive US market especially after the AGOA pact comes to an end.

On the sidelines of the National Prayer Breakfast meeting, President Kenyatta is expected to lead the Kenyan delegation in negotiating for trade pacts to guarantee exports to the United States.

Get breaking news on your Mobile as-it-happens. SMS ‘NEWS’ to 20153

In a statement, State House Spokesperson Kanze Dena-Mararo says Kenya is working closely with the US government in crafting a trading arrangement that guarantees continued market access for Kenya’s products in the US market after the African Growth and Opportunity Act (AGOA) comes to an end in 2025.

AGOA came into force 20 years when the then US President Bill Clinton signed it into being.

Since then, Kenya has successfully sought two extensions with the current deal set to expire in September 2025.

Last Thursday, the cabinet approved the commencement of talks with the United States of America on the establishment of a free trade arrangement between the two countries.

Under AGOA, Kenya enjoys Duty-Free Quota Free access to the US market, making the United States the third largest export destination for Kenya.

Kanze indicates that while in the United States, President Kenyatta is also expected to hold bilateral meetings with senior US government officials and the private sector.

During meetings with American business membership groups, President Kenyatta will be expected to pitch for Kenya as an ideal business, investment and tourism destination.

KBC-You-tube-728x90-New-2

Tell Us What You Think


Related Posts