Kenya, U.S. to strengthen trade partnership after Obamas visit

Kenya, U.S. to strengthen trade partnership after Obamas visit

Kenya and the United States have been close trading partners over the years.

With President Barack Obama co-hosting the Sixth Annual Global Entrepreneurship Summit with his Kenyan counterpart Uhuru Kenyatta, the two countries are expected to register high imports and exports from each other.

Kenya’s total exports to the U.S. have steadily increased in the last few years. For example, the value of exports to the U.S. in 2010 was USD 247.2 million while in 2014 was USD 420.8 million.

Kenya’s main exports to the U.S. include articles of apparel and clothing accessories, coffee, titanium ores and concentrates.

The value of imports from the U.S. has also been on the rise since 2010.

While the value of the import in 2010 was USD 431.8 million, it increased substantially to USD 1.85 billion in 2014.

In April 2015, the US congress introduced a bill seeking to renew the African Growth and Opportunity Act (AGOA) before its expiration in September 2015.

This bill seeks to not only give AGOA a longer extension but also makes adjustments that will improve the effectiveness of the program. During the bilateral talks, Kenya will explore how it could benefit significantly from the AGOA initiative.

 

Washington policy tools for engagement with partner States

Washington engages her development partners through a number of programs, including the:

  • Partnership for Growth;
  • New Alliance for Food Security and Nutrition;
  • Open Government Partnership;
  • Trade Africa;
  • Trade and Investment Frameworks Agreement (TIFA);
  • Power Africa; and the
  • Extractive Industries Transparency Initiative.

 

Power Africa

Power Africa was launched during President Obama’s trip to Africa in June 2013.

The long-term objective of the initiative is to double access to cleaner, reliable and efficient electricity to Sub-Saharan Africa by adding 10,000 megawatts of new power generation and expanding access to power to 20 million households and businesses.

Kenya needs to identify priority areas in which it can engage the U.S. more effectively in its mega power projects to realize its desire to competitively power its growing industries and achieve its development goals.

Want to send us a story? Submit on Wananchi Reporting on the Citizen Digital App or Send an email to wananchi@royalmedia.co.ke or Send an SMS to 25170 or WhatsApp on 0743570000

Leave a Comment

Comments

No comments yet.

latest stories