KENYA LAUNCHES NATIONAL TRADE POLICY

NAIROBI, The Kenyan government, through the Ministry of Industry, Trade and Cooperatives, has launched the National Trade Policy with the Kenya Trade Week, a three-day event which began here Monday bringing together prominent players and stakeholders in the trade sector under the theme “Transforming Kenya into a Competitive Export-Led and Efficient Economy”.

The new Trade Policy articulates provisions that are geared toward promoting efficiency in the growth of domestic trade through transformational measures that address the constraints impeding against the development of the wholesale, retail and informal sectors, said National Treasury Cabinet Secretary (Minister) Henry Rotich, representing President Uhuru Kenyatta.

The new trade policy aims to add impetus to the robust trade policy reforms that the country has pursued under regional and multilateral trade arrangements and translates to Kenya’s commitments at regional and multilateral level to solidify policy measures and create opportunity for their domestication through the various instruments that are proposed.

This will contribute to strengthening of regional integration and will in turn anchor Kenya as a dependable and predictable trading partner.

The National Trade Policy is being launched at a time when the global trade landscape is facing emerging challenges. Over 70% of global trade is made up of manufactured goods. Intra-Africa trade averages about 12% whilst Kenya’s share of both the global pie as well as in Africa has been facing serious bottlenecks leading to a huge balance of trade deficit with most of our trading partner, said the Principal Secretary (Assistant Minister) for the Department of Trade at the Ministry of Industry, Trade and Cooperatives.

Apart from the launch of the National Trade Policy, the government also launched and unveiled on Monday the Buy Kenya, Build Kenya Strategy; Guidelines for Kenya’s Trade and Investment Missions; National Export Development and Promotion Strategy for Kenya 2017-2022; National E-Trade Portal; National Trade Facilitation Committee (NTFC); and the State Department for Trade Website.

The Buy Kenya Expo will run through the whole of this week

Source: NAM NEWS NETWORK