- The Biden administration will launch a fresh strategic trade and investment partnership with Kenya. It will replace the previous agreement signed by ex-President Donald Trump’s government with Nairobi.
The US Trade Cabinet Secretary Betty Maina in an official statement last week clarified that the Biden administration will launch a fresh strategic trade and investment partnership with Kenya. It will replace the previous agreement signed by ex-President Donald Trump’s government with Nairobi. Last year the US trade office stated that it would review the bilateral trade negotiations with Kenya in 2020 over a potential free trade agreement (FTA).
Both governments will start work within the next three months and develop a roadmap for engagement in the identified 10 focus areas. These include agriculture, digital trade, action on climate change, and trade facilitation and customs procedures. The 10-point agenda will include supporting women and youth-owned businesses through trade, promoting workers’ rights, anti-corruption efforts, integrating small and micro businesses into international trade and improved regulatory services.
The deal signed in 2014 provides the legal framework for the exchange of information and evidence to assist countries in the enforcement of customs laws, including duty evasion, trafficking, proliferation, money laundering, and terrorism-related activities will be enforced.
The industry has sought the elimination of all tariffs and addresses non-tariff barriers for industrial and farm goods, including US tariffs on imports of steel and aluminum from Kenya as also enhance market access for remanufactured goods exports.
The wish list also includes commitments to ensure US access to Kenya’s services market, and address intellectual property rights and enforcement as they relate to patents, copyrights, trademarks, and trade secrets. It also suggested the removal of forced technology transfers, including an investor-State dispute settlement mechanism, and formalise a joint commitment to follow good regulatory practices.
Also read
https://trendsnafrica.com/kenya-us-to-restart-trade-talks/
https://trendsnafrica.com/kenya-us-free-trade-deal-in-the-doldrums/
