By Eddah Waithaka and Peace Muthoka
Investment, Trade and Industry Cabinet Secretary Salim Mvurya has announced that the United States and Kenya will conclude negotiations on the Strategic Trade and Investment Partnership (STIP) this Friday.
In September, Mvurya mentioned that the two nations would engage in further negotiations to address issues that were not fully addressed in the first rounds. He also said that he will not share key positions taken as they are still discussing.
“We will host an enhanced team from the US for the discussions in September,” he said.
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PS Abubakar Hassan of the Ministry of Investment Promotion led the Kenyan delegation during Friday’s meeting with USTR officials.
The partnership aims to increase investment, promote sustainable and inclusive economic development, improve the well-being of workers, consumers and businesses (including micro, small and medium-sized enterprises), and strengthen economic integration across Africa.
Addressing the press, Mvurya said that the collaboration will significantly increase bilateral trade between the two nations, especially with the African Growth and Opportunity Act (AGOA) set to expire in 2025.
The CS said that Kenya, together with other African Governments, will continue to push for AGOA to be extended beyond 2025.
AGOA provides eligible sub-Saharan African countries with duty-free access to the U.S. market for more than 1,800 products, in addition to the more than 5,000 products eligible for duty-free access under the Generalized System of Preferences.
The United States and Kenya launched the partnership on July 14, 2022, announcing that the two governments would pursue enhanced engagement leading to high-standard commitments in a wide range of areas.
The goal of the Partnership is to increase investment; promote sustainable and inclusive economic growth; benefit workers, consumers, and businesses (including micro-, small-, and medium-sized enterprises); and support African regional economic integration.
