TRALAC - Trade Law Centre

Kenya: New national export strategy seeks to grow exports to KSh 1.3t by 2022

Tuesday, 31 July 2018 Published: | Claire Wanja

Source: Kenya Broadcasting Corporation

The Cabinet Secretary for Trade, Industry and Cooperatives Hon. Peter Munya has lauded the 2nd Kenya Trade Week and Exposition forum at the Kenyatta International Convention Centre (KICC).

Speaking at the opening ceremony on Monday, the CS lauded the forum for bringing together both private and public sector players to chat ways of bridging Kenya’s imports and exports gap.

He emphasised the importance of Buy Kenya, Build Kenya which aims at promoting consumption of Kenya made products besides spurring production and enhancing job creation.

“This will with no doubt have a positive impact on livelihoods for all Kenyans” he added.

Addressing the same occasion, the Principal Secretary, State Department for Trade, Dr. Chris Kiptoo explained that the second edition of the Kenya Trade Week came at an opportune time when the Big Four agenda of Universal Health, Manufacturing, affordable housing and food security is taking shape.

The highlight of the 2018 Trade Week shall be launch of the Integrated Kenya National Export Development and Promotion Strategy and the AGOA Strategy Action plan, where His Excellency the President is expected to preside over.

These efforts seeks to transform the economy through an export focus that links Kenya’s productive sectors to export markets with an objective to grow exports from KSh148 billion in 2017 to KSh 1.2 trillion by 2022.

An opening high level panel discussion saw participants discussing best practices for export product and market diversification.

“Kenya can become a major exporter of financial, health and education services in the region with a focus on increasing value and bridging policy gaps,” said Dr. James Mwangi, CEO, Equity Bank Group during the panel.

Jas Bedi, Chairman, Export Promotion Council, highlighted the immense opportunities available to Kenya under AGOA.

He said that in textiles and apparel alone, Kenya is currently exporting only 340.7million, a meagre 0.3% of the potential US textile and apparel market of $83billion.

Other sectors that have enormous potential for export growth to the US include home decor and personal accessories, coffee, tea, processed and speciality foods, flowers and fresh fruit and vegetables.

The AGOA strategy envisages exports to the US to grow from KSh562million in 2017 to KSh1105million by 2023.


 

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