6 avril 2022
Kenya Us Trade Agreement
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What You Need to Know About the Kenya-US Trade Agreement
Kenya and the United States announced in February 2020 that they would start negotiations for a bilateral free trade agreement (FTA). The talks were launched in July that year, and after five rounds of virtual meetings, the two sides concluded the first phase of negotiations in November 2020. The second phase started in February 2021 and is expected to continue for several months, although the timeline may be affected by the change of administration in the US and the upcoming general elections in Kenya.
The Kenya-US FTA is significant for several reasons. First, it represents a new model of trade partnership between Africa and the US. While the US has signed FTAs with various countries and regions, mainly in North and South America, Asia, and the Middle East, it has not yet concluded a comprehensive agreement with any African nation. Kenya, on the other hand, has been pursuing a strategy of establishing mutually beneficial trade deals with major partners, including the European Union, China, and now the US. As the largest economy in East Africa and a hub for regional trade and investment, Kenya offers a gateway to the African market of 1.3 billion people and a strategic location for US businesses seeking to expand their presence in Africa.
Second, the Kenya-US FTA has potential benefits for both sides in terms of economic growth, job creation, and innovation. According to a joint statement by the two governments, the agreement aims to « create new opportunities to deepen economic ties, build lasting partnerships, and promote sustainable economic development » by reducing barriers to trade and investment, enhancing regulatory coherence, protecting intellectual property, and promoting digital trade. The FTA also seeks to address issues such as labor rights, environmental protection, and anti-corruption measures, which are important for ensuring inclusive and responsible trade.
Third, the Kenya-US FTA has raised some concerns and controversies among various stakeholders in both countries. Some critics argue that the FTA could undermine Kenya`s economic sovereignty, harm local industries and farmers, and expose the country to unfair competition from US products and services. They point out that the US has a history of pursuing trade policies that favor its own interests and impose conditionalities on its partners, such as compliance with intellectual property rights enforcement, labor standards, and environmental regulations. They also warn that the FTA could lead to increased dependence on the US market and discourage regional integration and intra-African trade.
On the other hand, supporters of the FTA argue that it could help Kenya diversify its exports, attract foreign direct investment, enhance its competitiveness, and access new technologies and know-how. They contend that the FTA would be based on mutual benefits and respect for each other`s interests and that it would provide a framework for addressing the challenges and opportunities of a rapidly changing global economic environment. They also note that the FTA is not a panacea for all of Kenya`s development issues and that it should be complemented by domestic reforms and investments, as well as collaborations with other African partners.
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