US in partnership deal with Kenya to secure markets

A lobby representing United States businesses eying investment in Africa has today partnered with the Kenya government to in effort boost direct investments in Kenya.

The partnership between Corporate Council for Africa and Kenya’s industrialisation ministry will help create cross-linkages between Kenyan and US traders enabling them to enjoy direct access to markets in both countries for mutual benefit.

The two-year partnership deal signed by Trade, Industry and Cooperatives Cabinet Secretary Adan Mohamed and CCA President Stephen Hayes here in Washington, DC also stated that both parties will share information on existing opportunities for investment.

“This MOU is a great opportunity for us to work more closely to promote trade and investment in Kenya. The Corporate Council has always been a champion for U.S. -Kenya business and we look forward to doing even more with them,” said the CS.

A representative office

The dinner event hosted in Mohamed’s honour resolved to immediately put modalities for holding of joint conferences, workshops and exhibitions to further the aim of greater US-Kenya trade and investment.

CCA has conducted trade excursions to Kenya on several occasions that culminated to opening of a representative office in Nairobi.

Mr Hayes said that the partnership deal formalizes an association between the two countries that will fast-track execution of trade deals in various sectors among them agri-business and finance.

Under the Africa Growth opportunity Act(AGOA), Kenyan companies enjoy tax-exempt access to American markets for a variety of processed goods among them textile based products and flowers.

CCA represents 85per cent of US firms investing in a variety of projects in Africa and its main role is to connect the US businesses with African governments and partner businesses.