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Kenya, US finalizing new trade deal

Kenya, US finalizing new trade deal

Kenyan Wall Street | 5th October 2023

By Kenyan Wall Street

Kenya and the United States are finalizing a new trade agreement.

President William Ruto and his US counterpart, Joe Biden agreed to expedite the Strategic Trade and Investment Partnership agreement. The agreement will increase trade and investment between the countries, boost manufacturing and create jobs.

President Biden said the US will work with Kenya and other nations in Africa to scale up investment in renewable energy and infrastructure “as a way to provide opportunities for jobs and industrialisation”.

The two leaders also agreed to continue collaborating closely on security, ending conflicts and fighting terrorism in the Horn of Africa. This will allow people in the region to enjoy peace and focus on economic engagement.

The two leaders had a telephone conversation on Tuesday evening.

President Biden thanked Kenya for accepting to lead the Multinational Security Support mission to Haiti and confirmed America’s support for the mission.

Also discussed by the two presidents was the place of technology in development, fight against corruption and food security in Africa.

 source: The Kenyan Wall Street