Corporate News
Exporters bank on peaceful poll for Agoa growth
Kenya exports, among others, cut roses under Agoa, a tool whose regular review focuses on good governance, transparency and institutional reforms. Photo/FILE
Posted Thursday, August 5 2010 at 00:00
However, exports to the US under Agoa dropped by 18.4 per cent from Sh27.5 billion ($343.5 million) in 2008 to Sh22.4 billion ($280.4 million) last year.
Government support
The drop defied the Sh80 billion ($1 billion) that the US government has spent on trade training in 38 African countries since 2008.
Textile sales which has dominated Kenya’s exports to the US since Agoa was enacted 10 years ago have been declining from a high of Sh21.7 billion ($ 272 million) in 2003, to only Sh14 billion last year.
Mr Jaswinder Bedi, the Kenya Association of Manufacturers’ chairman, who is attending the Washington meeting, attributes the decline to reduced operations following the lapse of the multi-fibre agreement in 2005, which allowed states to import textile from other countries for exports.
“The textile sector needs government support because it capable of creating thousands of jobs annually,” said Mr Bedi who is also the chairman of the Kenya Textile Manufacturers Association.
Delegates at the forum will be looking at new strategies of increasing trade volumes as global economy recovers.
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