Kenya is hoping for a temporary trade partnership before establishing a fully-fledged trade deal with the United States, Citizen Digital news portal reported, citing outgoing Trade and Industrialization Cabinet Secretary Betty Maina.
The UK has demanded that Kenya abide by the provisions of the Economic Partnership Agreement and that its exports to Kenya be exempted from the newly raised East African Community tax charges.
The two countries- (UAE and Kenya) in July launched talks on United Arab Emirates-Kenya Comprehensive Economic Partnership Agreement (UAEK-CEPA) to increase the volume of trade in goods and services and investment.
Kenya-US trade talks could soon be fast-tracked as the latter’s trade representative Katherine Tai, is expected to lead a delegation to President-elect William Ruto’s inauguration this week.
Ghana’s export sector is said to be making giant strides as the Ghana Export Promotion Authority about two months ago announced a $3.3 billion increase in non-traditional export earnings for 2021.
In the Kenyan context, Meta’s GDPR woes may be avoided if the U.S. gets its way in a proposed free trade deal between the two countries which is currently in discussions.
Kenya which is among the 49 member states that have ratified the agreement, lacks product competitiveness due to quality challenges, high trade investment and trade costs.
The UAE-Kenya CEPA will be the first bilateral trade deal that the UAE seeks to sign with an African nation. Such an agreement will deepen trade and investment ties between Africa and the Middle East and boost the total value of UAE-Kenya non-oil bilateral trade,...
Kenya exported $685.1 million worth of goods to the United States in 2021, of which more than 75% entered duty free under AGOA, according to the Congressional Research Service
The draft ministerial regulation states that goods produced in SEZs shall be treated as originating goods provided they satisfy the rules of origin, member states are yet to agree on import duties being paid on the inputs of these products.
“Kenya will incur the largest loss at $14.2 million, followed by Uganda at $13.5 million. Tanzania is estimated to register revenue loss of $5.3million, Burundi $4.3million and Rwanda $ 3.9,” the Economic Policy Research Center (EPRC)shows.
In April 2021, Secretary of State Antony Blinken confirmed US-Kenya FTA talks would resume. Observers believe the US-Kenya FTA, initiated by Trump in 2020, would help expand US ’carrot and stick’ trade and security policies on the continent to counter China.
US is pushing for favourable terms among them a duty free market access for its goods, including agricultural and industrial, in a move aimed at taming the growing dominance of China’s trade with Kenya.
The US government and Kenya early this month held a round of trade talks, which raised hopes of a fresh direction after the Biden administration froze Trump-era negotiations on the free trade agreement.
The Swiss President said Kenya is an attractive destination for investments and trade it serves as a gateway to Eastern and Central African region, and Swiss companies will benefit from the huge market provided by the AfCFTA agreement.
Japan is looking to expand its presence on the African continent, with trade and investment taking center stage during the Japan-Africa Public-Private Economic Forum held in Nairobi
Kenya wanted to do a deal with Washington before the expiry of the Africa Growth and Opportunity Act (Agoa), which allows sub-Saharan African countries to export thousands of products to the US without tariffs until 2025.
The platform has been in its pilot phase for about 18 months in Kenya, Morocco, Tunisia, Cameroon and Senegal, and will now be integrated in 22 countries.
The EU and Kenya agreed to advance negotiations on an interim Economic Partnership Agreement. The iEPA will be complemented by binding commitments on environmental protection, climate and labour rights.
The previous administration had launched talks with Nairobi on a bilateral free trade agreement, but those plans have been on ice until USTR completes a policy review.