NAIROBI, Kenya targets to increase its exports to 20 percent of the Gross Domestic Product (GDP) in three years’ time, up from the current 14.5 per cent, buoyed by ongoing efforts to exploit destination markets in some 80 countries, says Trade Principal Secretary (Assistant Minister) Chris Kiptoo.
This will be realized by, among others, product diversification and value addition initiatives, he says, noting that the formulation of the National Export Strategy (NES), which commenced in September last year and is set for finalization by the end of next month, has seen prioritization of target sectors to help increase exports.
The priority sectors, Kiptoo says, include livestock and livestock products where Kenya now has new markets in the Middle East, value addition of agricultural products, handicraft and cross cutting issues ranging from export financing, trade facilitation and foreign market representation.
It is emerging that Kenya has not been fully exploiting export opportunities in more than 80 countries which Kenya has trade agreements or foreign representations with. For instance, Kenya has utilized only 12 product lines under the African Growth and Opportunity Act (AGOA) of the United States out of the available 6,400 product lines made available by the US to promote imports from qualified African countries.
To this end, Kiptoo says. the government will be looking into enhancing diversification of exported products through value addition. Informal negotiations have commenced with regards to duty-free access for Kenya’s goods to Britain which expires in March 2019.
Source: NAM NEWS NETWORK