The outcome of the 2024 US elections, which would see former President Donald Trump return as the country’s next leader, is being assessed globally, and for Kenya their assessment points in the right direction.
The East African country noted that the change in administration would do very little to derail the budding relationship between Kenya and the US.
As reported by the Star, Kenya seems optimistic that the Strategic Trade and Investment Partnership (STIP) talks would proceed under the Trump administration.
This projection is despite the fact that the US elections last week, in which US President Donald Trump defeated US Vice President Kamala Harris, caused the negotiations that had progressed to the eighth round in September to stall.
The trade agreement, which negotiations began in July 2020 during the administrations of Trump and Uhuru Kenyatta, has been postponed by previous changes of government in both the US and Kenya.
President Biden’s government reviewed a portion of the agreement following the US elections in November 2020 before starting new negotiations.
Both the current presidents of Kenya and the US, William Ruto and Joe Biden respectively, then finalized on what is now referred to as the Strategic Trade and Investment Partnership (STIP).
However, trade analysts have indicated that another assessment of the agreement may result from Trump’s return to the White House.
Trade PS Alfred K’Ombudo, who has been in charge of the Kenyan delegation during the discussions, has stated that the process will not be impacted by the change of leadership.
He asserted that Kenya and the United States of America have a long history of trade, investment, and development cooperation.
“Our conversations with the United States as AGOA senior officials and ministers and with Kenya, show broad based, bi—partisan and bicameral support for advancing trade and investment between Africa, Kenya and the United States. This transcends administrations both in the U.S. and Kenya,” K’Ombudo noted.
Additionally, the US ambassador Meg Whitman had previously stated that the two nations were eager to reach an agreement prior to a new government.
“I really hope we can bring it to fruition by the end of this year,” Whitman had said in Nairobi.
The East African economic giant is keen on getting at least 5% of the US market through a bilateral agreement, which could generate more than Sh2 trillion in export earnings for the nation each year.
According to the Economic Survey 2024, Kenya’s exports to the US were worth Sh62.3 billion last year, down from Sh79.9 billion the year before.
