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Kenya launches National AGOA Strategy, Action Plan 2018-23
07 Aug '18
1 min read
Kenya recently launched the National AGOA Strategy and Action Plan 2018 -23, which aims to double its 2016 export value to the United States of $552 million to $1,105 million by 2023. Apart from strengthening bilateral trade, the strategy will contribute to Kenya’s Big Four agenda of manufacturing, universal healthcare, affordable housing and food security.
The African Growth Opportunity Act (AGOA) and the generalized system of preferences (GSP) offer preferential access to the US market for 6,421 eligible Kenyan product tariff lines.
By leveraging these products’ duty-free access to the United States, Kenya can increase export earnings and investment, providing a significant boost to its efforts to advance industrialization, create jobs and improve prosperity and well-being, according to a USAID press release.
USAID supported Kenya’s ministry of industry, trade and cooperatives and the country’s private sector to develop the strategy.
The African Growth Opportunity Act (AGOA) and the generalized system of preferences (GSP) offer preferential access to the US market for 6,421 eligible Kenyan product tariff lines.
By leveraging these products’ duty-free access to the United States, Kenya can increase export earnings and investment, providing a significant boost to its efforts to advance industrialization, create jobs and improve prosperity and well-being, according to a USAID press release.
USAID supported Kenya’s ministry of industry, trade and cooperatives and the country’s private sector to develop the strategy.
Fibre2Fashion News Desk – India
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