This archive report was first published on 10 July 2020.
July 10, 2020 - The United States and Kenya are making significant strides in their trade negotiations, with a new Free Trade Agreement (FTA) on the horizon. This development comes as the African Growth and Opportunity Act (AGOA) is set to expire in 2025.
According to Scott Eisner, President of the U.S.-Africa Business Center at the U.S. Chamber of Commerce, the agreement will provide American businesses with the certainty they need to continue investing in Kenya's growing market. The deal is also expected to boost the long-term economic outlook for both countries.
Kenya is keen to secure a trade agreement with the US to continue enjoying the benefits currently available under AGOA. The U.S. Chamber of Commerce applauds the U.S. and Kenyan governments for their commitment to expand trade and investment opportunities between the two countries.
With a new FTA, American companies are expected to use Kenya as a launching pad to access key markets across the African continent. The US-Kenya Trade Working Group, launched in February this year, will provide recommendations on enhancing cross-border trade flows, digital trade disciplines, efficient trade practices, and unlocking market potential.
