Photo Courtesy of Kenya's Head of State His Excellency Dr William Samoei Ruto and United States of America President His Excellency Joe Biden
The planned bilateral trade agreement with the Kenyan Government under the stewardship of Head of State Dr William Samoei Ruto has been given top priority by President Joe Biden's administration this year in anticipation of the expiration of the duty- and quota-free agreement in September 2025.
Washington anticipates "making rapid progress" in the negotiations of the 11 pillars of the planned US-Kenya Strategic Trade and Investment Partnership (STIP), which will replace the two-decade-old Africa Growth and Opportunity Act (Agoa), the US Government stated.
The US negotiators and the Kenyan delegation, which was lead by Trade PS Alfred K'Ombudo, held their initial conceptual negotiations in Washington between February 6 and 10.
And now, following a sluggish start to the negotiations largely due to regime transition in both nations, US Trade Representative Katherine Tai has voiced confidence that Biden and Ruto's administration will make significant progress in the upcoming months.
"The STIP (proposed agreement with Kenya) expands on our current collaboration and will pursue greater involvement resulting to high standard commitments in a variety of areas with a view to raising investment, supporting sustainable and inclusive economic growth, benefiting workers," US Trade Representative Katherine Tai stated.
The duty of creating a plan for improved engagement on 11 pillars has been given to the negotiating teams.
Focus topics include promoting consumer, corporate, and worker confidence in the digital economy, protecting the environment, integrating micro, small, and medium-sized enterprises (MSMEs) into global trade, and preventing and combating corruption.
https://www.businessdailyafrica.com/bd/economy/america-lists-trade-deal-with-kenya-on-its-2023-agenda--4147266
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