Kenya is now seeking to strengthen its trade and integration ties with Common Market for Eastern and Southern Africa (COMESA) during the upcoming 24th Summit scheduled for October this year in Nairobi.
Currently, Kenya’s trade with COMESA countries continues to report growth after exports increased from 1.65 billion USD (Sh213 billion) in the year 2020 to 2.2 billion USD (Sh284 billion) by the end of last year.
The government is now banking to boost these exports by harnessing the trade potential of the regional bloc and its competitiveness by addressing major trade barriers and roadblocks.
According to Principal Secretary, State Department for Trade Regina Ombam, Kenya will strengthen its trade ties with COMESA countries which will see an increase in exports for local products.
Ombam said the regional bloc which consists of 21 countries is a key trading market for Kenya’s goods and services and will help cushion the country from global turmoil such as dollar fluctuations and the ongoing trade tariffs.
Kenya was among a host of countries slapped with 10 percent tariffs for its exports to the United States of America which was announced by President Donald Trump.
Although the implementation of trade tariff has been paused for 90 days to allow negotiation, the move sent market shocks across 33 African countries which have since the year 2000 traded with the US duty free under the Africa Growth and Opportunity Act (AGOA).
Backed by the surprise tariffs announcement by the US, the PS said there’s a need to strengthen trade ties within the continent and Kenya will seize the opportunity during the October 9 summit with the bloc heads of states and ministers.
Speaking in Naivasha during the launch of a Multi-Agency National Organizing Committee ahead of the COMESA summit, Ombam said the summit offers regional leaders a crucial opportunity to review COMESA integration and trade agenda and other programs.
She tasked the committee which is drawn from public and private officials to oversee and fast-track preparedness that will lead to a smooth and successful summit that will host over 3,000 delegates.
She said Kenya will seek to leverage its competitiveness to boost its trade with COMESA during the 24th COMESA Summit that will be held in Nairobi in October.
Trade Secretary Michael Mandu said the growth of trade exports to the COMESA bloc from 1.65 billion USD (Sh213B) in 2020 to 2.2 billion USD (Sh284 billion) as of last year holds great potential to boost trade.
“Our exports to the COMESA bloc by year 2020 were valued at 1.65 billion USD which grew to 2 billion USD by 2023 and in 2024, it was 2.2 billion USD which indicates growing trade”, said Mandu.
Mandu said the summit will unlock any barriers to trade for both import and export between Kenya and COMESA which will be mutually beneficial for both.
“The pride in import and export trade is that Kenya will also get a lot of imports coming in from the COMESA bloc which will result in a win-win for COMESA and for ourselves”, said Mandu.
Due to ongoing trade liberalization efforts within COMESA, especially reduced tariffs have facilitated greater trade flows among member’s states.
Kenya’s major exports the bloc includes agricultural products such as tea, coffee and textiles, Iron, steel, petroleum and cement.
According to data from COMESA, in 2023, countries within the bloc exported a total of 198 billion USD with the main trading partners in terms of exports being China, United Arab Emirates and Italy.
The data shows that the top exported products from the bloc were Crude Petroleum, Gold, and refined Copper.
On the other hand, COMESA’s total imports recorded 266 billion USD in 2023 with major products being refined petroleum, cars and wheat.
By Erastus Gichohi
