TRALAC - Trade Law Centre

Kenya, US establish trade investment working group

Tuesday, 28 August 2018 Published: | Bernadette Khaduli

Source: Kenya News

Kenya and United States of America have established a trade and investment working group to explore ways of deepening business ties between the two countries.

The  United States Trade Representative, Robert Lighthizer and the Kenyan Industry, Trade and Cooperatives Cabinet Secretary, Peter  Munya jointly announced establishment of the partnership in the US on Sunday.

Under the Trade and Investment Working Group, the two countries would work together to explore a mutually beneficial trade and investment framework to guide the relationship move forward, as well as maximize the remaining years of African Growth and Opportunity Act (AGOA).

In his remarks, Lighthizer said Americans were delighted to welcome the Kenyan delegation to the United States to build a stronger bilateral trade and investment relationship between the two countries.

On his part, Munya, who was represented by Trade Principal Secretary, Dr. Chris Kiptoo,

said although AGOA preferences scheme has led to increased Kenyan exports since 2000, its utilization has been sub-optimal.

In a press statement sent to newsrooms on Monday, the CS said through the implementation of the recently launched National AGOA strategy and action plan, Kenya seeks greater US support in order to optimize available opportunities in the remaining seven years of AGOA.

“Under the Trade and Investment Working Group, we look forward to exploring ways to deepen trade and investment ties between Kenya and the United States,” he said.

Earlier in the day, President Donald Trump met with President Uhuru Kenyatta to discuss the strong bilateral relationship between United States and Kenya, under the economic dialogue announced by the two Heads of State.

The bilateral ties of the US-Kenya Trade and Investment Working Group will support comprehensive trade policies and begin to lay the groundwork for a stronger future trade relationship.

Trade between the two countries stands at about $1.0 billion a year. In 2017, Kenya’s exports to the United States entered under AGOA were $407 million, which is over 70 percent.

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