Over 2,000 small businesses in Kenya will benefit from an agreement that will see them gain access to the American market through export trade.
The agreement by, America’s, Centre of International Private Research (CIPE) and the Kenya National Chamber of Commerce and Industry (KNCCI) means small businesses in Kenya can export more commodity, such as fruit, fish, leather products and textiles.
CIPE, affiliated to the US Chamber of Commerce, promotes private enterprise and market-oriented reforms while KNCCI is a lobby group for small businesses in Kenya.
First to benefit from this will be KNCCI chapters of Nairobi, Mombasa and Vihiga. Members of these chapters will also benefit from training, technical assistance and small grants to produce export-quality products.
CIPE Regional Director Africa, Lars Benson said, “Kenya and the US are very close allies economically. However, inter-country trade has been more favorable to the US since Kenyan markets do not understand the US market.”
10 counties had applied to be part of the program’s launch. More KNCCI county chambers are to be brought onto the program in the 2019/2020 financial year.
The US is Kenya’s third largest export market after Uganda and Tanzania. 8.3% of Kenya’s exports went to America as per 2015’s trade estimates.