Kenya is set to finalize a trade deal with the United States by the end of this year, President William Ruto has said, following high-level talks with U.S. Secretary of State and National Security Advisor Marco Rubio on the sidelines of the United Nations General Assembly.
In their talks, the pair examined a broad array of issues at the local, regional, and global levels, and shared the respondents’ ongoing interest in economic and security cooperation.
“At the bilateral level, we agreed to strengthen relations by expanding trade, concluding a trade agreement by the end of the year, boosting U.S. investment in Kenya, and deepening security cooperation, particularly in counter-terrorism.” said Ruto
Moreover, discussions with the secretary revolved around the African Growth and Opportunity Act (AGOA), the duty-free arrangement that has been the base for African imports to the U.S. market since 2000.
President Ruto stressed its contribution to the continuation of Kenya’s export-led growth while Secretary Rubio pledged the support from Washington for more robust economic relations and acclaimed Kenya’s leadership in promoting peace and security across the region.
The AGOA pact, which is set to expire in 2025, is still under negotiation, with Kenya advocating for a prolongation of the agreement by at least five years so that its textile, apparel, and agricultural exports will be safe.
The potential trade agreement, which is anticipated by December, is expected to be a turning point in the U.S. partnership with Kenya making the latter the leading African economic partner. It will also bring new investments from the U.S. to Nairobi’s rapidly growing economy.