Serrari Group

Negotiations between Kenya and the United States for the Strategic Trade and Investment Partnership (STIP) have reached their sixth round, with Mombasa playing host to the discussions from June 3-7.

Assistant U.S. Trade Representative Constance Hamilton is leading the American delegation, while Principal Secretary for Trade Alfred K’Ombudo heads Kenya’s team.

The agenda for this round is focused on five key areas: agriculture, customs, trade facilitation, environment, and workers’ rights.

Reflecting on the previous phase, both parties expressed commitment to reaching a comprehensive agreement by year-end, highlighting advancements in anti-corruption measures, MSME support, services regulation, and initial agricultural provisions.

Originating from discussions initiated in 2020, under the Trump administration, and formalized as the STIP under President Biden in 2022, this partnership seeks to broaden investment and growth avenues, prioritizing inclusivity and benefitting workers and businesses across both nations.

The STIP aims to bolster investment, foster sustainable growth, and enhance regional economic integration in Africa, with a particular focus on supporting micro, small, and medium-sized enterprises.

As negotiators convene in Mombasa, the outcomes of these discussions hold promise for fostering stronger economic collaboration between Kenya and the United States, with implications far beyond their borders.

photo source: Google

By: Montel Kamau

Serrari Financial Analyst

5th June, 2024

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