This archive report was first published on 24 June 2020.
Kenya's Free Trade Deal with the US: A Win-Win or a Risky Move? ¶
Kenya is poised to start negotiations for a free trade agreement (FTA) with the United States, with President Uhuru Kenyatta expressing optimism about the country's chances of securing a mutually beneficial deal.
Speaking at a webinar hosted by the Atlantic Council, President Kenyatta emphasized that trade negotiations are not about one party emerging victorious at the expense of the other, but rather about both sides leaving the table feeling like winners.
"Trade negotiations are not about winner takes all. Everybody must leave the table feeling a winner," President Kenyatta said.
Kenya has assembled a strong team to lead the negotiations, which are expected to drive investments not only for the country but also for the region and the continent at large.
However, critics argue that Kenya's decision to pursue a bilateral FTA with the US could undermine the African Continental Free Trade Agreement (AfCFTA) and expose the country's fragile market to competition from US products.
Kenya's per capita income stands at $3,440, significantly lower than the US's $63,690, leading some to question the wisdom of opening up the country's market to US products.
"We believe that all trade negotiations are based on a win-win premise," President Kenyatta said.
Despite these concerns, President Kenyatta remains confident that Kenya can negotiate a fair deal with the US, and that the country will emerge as a trailblazer in the region.
"We will be trailblazers and hope other countries follow suit," he added.
