According to the recent trade agreement, the cabinet said negotiations with the US, South Korea and the United Arab Emirates on the Free Trade Area are ongoing as Kenya wants to broaden access to its exports outside the regional and conventional markets. The cabinet recently noted that negotiations with these nations have commenced with the objective to improve duty-free and quota-free access of Kenyan exports to these attractive markets. In this blog, we will discuss Kenya eyes duty-free trade deal.
According to the cabinet, talks on the Free Trade Area are still underway with the US, South Korea, and the United Arab Emirates because Kenya wants to expand access to its goods outside of regional and traditional markets. The government announced recently that talks with these countries had begun in an effort to increase Kenyan products' access to these lucrative markets without having to adhere to quotas or pay duties.
The administration also stated that trade negotiations between the US and Europe are moving forward as Kenya increases market access for its commodities in anticipation of the African Growth and Opportunity Act, which is slated to expire in 2025, ending duty-free access for Kenyan exports to the US. Also Know Kenya Imports
According to a statement from the State House, continuing trade negotiations are aiming to improve Kenyan exports' access to duty- and quota-free markets via free trade agreements with the US, UAE, South Korea, and the EU.
Also, the cabinet added that it is also trying to enhance existing alliances with the United Kingdom, the African Continental Free Trade Area, the Common Market for Eastern and Southern Africa, and the East African Community.
Following the termination of the agreement made with previous president Donald Trump, President Joe Biden's government solicited opinions on the proposed new free trade window from American and Kenyan businesses in June. The phone contact came after Washington and Nairobi began new trade negotiations in July.
Further, the United States Trade Representative Office, which is in charge of the negotiations, stated that feedback from interested parties would be helpful as it defines the agreement's negotiating goals and positions. Also, the last date for comments was September 16.
Businesses had been asked to provide their views about particular negotiating objectives on agriculture, anti-corruption, digital economy, environment and climate, transparency and good regulatory practices, micro, small, and medium-sized enterprises, worker rights and safeguard protections and participation of women, youth, and additional factors in the trade.
However, there have been fears that a free trade regime will lead to the dumping of inexpensive goods, notably agricultural items from the US.
According to the Kenya Import Data, the Trade Remedies Agency and the Trade Negotiation Council will assist in reducing the risk of cheap, subsidised imports being dumped as part of anti-dumping and countervailing measures, according to the cabinet, which claims to have given the Ministry of Trade and other pertinent stakeholders the go-ahead to put them into operation.
However, Kenyan businesses supported the free trade movement, dismissing worries that some of them may go out of business as a result of inexpensive items manufactured by modern US factories.
The Kenya Private Sector Alliance (Kepsa) previously predicted that the anticipated US-Kenya trade agreement will improve export and import prospects by Kenya Trades.
An attempt by the owner of a duty-free shop to prevent the Kenya Airports Authority (KAA) from leasing a contested site at the Jomo Kenyatta International Airport (JKIA) while the appeal it filed is still ongoing was unsuccessful.
Judge Chacha Mwita of the High Court declined to enjoin KAA from temporarily leasing the duty-free stores on terminals B and C, stating that Maya Duty Free Ltd. could get damages if the action were to be successful.
The judge stated that because KAA is a public entity, it would be simple for it to pay Maya, and that the owner may recover the loss if it occurred.
Based on the aforementioned factors, I am not convinced that Maya has met the requirements for issuing an interim injunction. That is to say, Maya has not established a case that has a reasonable chance of success, the judge added.
According to the company, which claims it has been running the shop since October 2007 under a contract that lasted almost 12 years, the court was asked to issue temporary orders prohibiting KAA from leasing the space. Before KAA decided to renovate the airport, the lease—which was set to expire on April 30th, 2019—was extended for an additional three years. The operator was then given a temporary occupation licence.
So Kenya wants to broaden access to its exports outside the regional and conventional markets. Additionally, the Kenya Trade Data includes the precise product description and is highly useful for analysing the global distribution of products. If you need any advice on Kenya Import Data or Kenya Imports, kenyatradedata specialists can furnish you with useful and relevant information. They may guarantee the delivery of precise and specific Kenya Trade Data reports worldwide.
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