Kenya and United States are in talks to identify areas of interest in information communication technology (ICT) sector that can interest US firms.
A meeting between The US Ambassador to Kenya, Megan Whitman, and the Cabinet Secretary for Investments, Trade, and Industry Rebecca Miano, the states sought cooperation in six key areas.
The meeting laid the groundwork for an enhanced collaboration between Kenya and the United States in Apparel Sector by leveraging Kenya's renewable energy and young population for supply chain diversification.
"Our strengthened collaboration with the U.S. is key to unlocking new opportunities for Kenya's economic growth," said CS Rebecca Miano.
The US ambassador says Kenya hold a strategic position as the gateway to Africa, noting the availability of about 90 percent electricity from renewable energy and its substantial growth, making it an optimal platform for American trade and investment.
She commended Kenya's potential in global supply chain diversification, citing the apparel sector as a prime example amid supply disruptions triggered by the Covid-19 pandemic and the Russia-Ukraine war.
"Kenya presents a compelling case for global supply chain diversification, especially in the wake of recent disruptions. The country's resilience and strategic advantages make it an attractive destination for American businesses," said Whitman.
Other than ICT and apparel trade opportunities, modernisation of agriculture also featured in the discussions, highlighting opportunities in pyrethrum, potatoes, cotton, and solar-powered irrigation and water storage.
In an effort to improve the investment climate, Kenya and the US committed to creating an environment conducive to investment.
This will include One-Stop Shops for investors to enhance ease of doing business and strategic business dialogue and small business facilitation
US goods exports to Kenya have been on an upward trajectory growing to $604 million, about 8.1 percent ($45 million) in 2022 compared to 2021.
