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).
The Kenyan leader spoke shortly after a meeting with the United States President Donald Trump at the White House during which the two leaders agreed to commence talks leading to a trade pact between Kenya and the US.
President Kenyatta made the assurance when he addressed over 350 business leaders attending a US-Kenya Trade Forum in the US capital.
He said the proposed new trade arrangement with the United States of America would in no way undermine Kenya’s commitment to the African Continental Free Trade Agreement (AfCFTA).
At the White House meeting, Presidents Kenyatta and Trump said a new trade agreement would help increase volumes of trade and investment between Kenya and the US.
US Trade Representative Robert Lighthizer who spoke shortly after the meeting between Presidents Kenyatta and Trump said, America recognizes Kenya as a leader in Africa and an important strategic partner of the US.
He said a new trade agreement presents the two countries a rare opportunity to explore ways of deepening Kenya-US economic and commercial ties.
“Under President Trump’s leadership, we look forward to negotiating and concluding a comprehensive, high-standard agreement with Kenya that can serve as a model for additional agreements across Africa,” Amb Lighthizer said.
In line with the Bipartisan Congressional Trade Priorities and Accountability law of 2015, the Trade Representative will now officially notify Congress of the US government’s intention to start trade negotiations with Kenya.
Currently, trade between Kenya and the US stands at about USD 1billion a year with over 70 percent of Kenya’s export into the expansive American market in 2018, worth USD 466 million, entering under AGOA.
