New US deal won't undermine Free Trade Area pact, Uhuru says : The Standard

• PSCU 07th Feb 2020 09:07:38 GMT +0300

President Uhuru Kenyatta has assured that a new bilateral trade deal between Kenya and the US won't undermine the African Continental Free Trade Agreement (AfCFTA). He spoke shortly after a meeting with the United States President Donald Trump at the White House during which the two leaders agreed to commence trade talks. Uhuru made the assurance when he addressed more than 350 business leaders attending a US-Kenya Trade Forum in the US capital. At the White House meeting, Uhuru and Trump said a new deal would increase investment between Kenya and the US.

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US Trade Representative Robert Lighthizer who spoke shortly after the meeting between Uhuru and Trump said America recognises Kenya as a leader in Africa and an important strategic partner. He said a new deal presents the two countries a rare opportunity to explore ways of deepening the Kenya-US economic and commercial ties. In line with the Bipartisan Congressional Trade Priorities and Accountability law of 2015, the Trade Representative will now notify Congress of the US government's intention to start trade negotiations with Kenya.

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Currently, trade between Kenya and the US stands at about USD 1billion a year with over 70 per cent of Kenya's export into the expansive American market in 2018, worth USD 466 million, entering under AGOA. Uhuru told the Kenya-US forum that his administration is committed to developing and concluding the strongest trade and investment framework.

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“Today I want to assure all of you of Kenya’s unwavering commitment. “We are keenly looking forward to concluding the trade arrangement between our two countries and I believe that these trade agreements would not only serve Kenya and United States but would probably set the base for a new engagement between the United States and other African countries,” Uhuru said. He dismissed speculation that Kenya is breaking away from its commitment to AfCFTA, saying the new arrangement with the US is only aimed at deepening trade. Kenya is among the first countries to sign and ratify AfCFTA. Uhuru added that Kenya needs to move faster and set the pace for other African countries in formulating new trade and investment arrangements with the US as the African Growth and Opportunity Act (AGOA) comes to an end in 2025.

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He was accompanied by Cabinet Secretaries James Macharia (Transport), Adan Mohammed (East African Affairs) and CS designate for Trade Betty Maina among other senior government officials.

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President Uhuru KenyattaAfCFTADonald Trump