15/04/2021

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Kenya, US launch trade talks [Business Africa]

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Severely affected by 14 months of fighting, Libya’s economic activities have come to a standstill.

Tens of billions of dollars of industrial zones have gone up in smoke, and today banks are struggling to provide credit to SMEs and start-ups, which are struggling to recover from the current crisis.

These companies that could become a real lever for economic development, have suffered to the detriment of an oil-rich economy and privatization, experts say.

Kenya, US launch trade talks

With nearly $1.17 billion worth of trade in 2018 according to statistics, the United States and Kenya want to further strengthen their cooperation.

The two countries are currently pursuing talks for a comprehensive free trade agreement, scheduled to start at the same time as the Continental African Free Trade Area (AfCFTA) comes into force.

Kenya, which already exports many duty-free products to the U.S. market, will become Washington’s 11th African trading partner and sixth in sub-Saharan Africa.