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What Kenya Needs to Secure New US Trade Deal as AGOA Expires
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Kenyans.co.ke
As the curtains come down on the Africa Growth Opportunity Act (AGOA), focus has been shifted to securing a new trade deal with the United States and salvaging exports worth billions of shillings.
In the deal, more than 30 countries enjoyed tariff exemptions for their exports into the U.S. For Kenya, key exports secured in the deal were textiles, tea, and coffee.
The top of this would be for Kenya to cease sourcing raw materials from China and India, nations with which the U.S. has ideological differences.
In the textile sector, for instance, Kenya gets its raw materials, such as cotton, from the two countries.
By doing so, the country would cut the costs incurred in importation and earn more revenue as it would have its own raw materials to make the required fabrics.