However, relations between Japan and Kenya go beyond their economies. Japan has a great cultural influence in Kenya, where festivals of Japanese cinema and traditional Japanese art are held. The largest population of Japanese nationals in Africa lives in Kenya, and the largest population of foreign athletes in Japan is that of Kenyans. Describes the trade agreements in which this country is involved. Provides resources for U.S. companies to obtain information on the use of these agreements. 1. After five rounds of negotiations, Japan and the Republic of Kenya have reached an agreement in principle on the Investment Agreement between Japan and Kenya. Japanese Prime Minister Shinzo Abe and William Arap Ruto, Vice President of the Republic of Kenya, confirmed in June 2013 that they would launch a preparatory meeting for the start of negotiations on the investment agreement between the two countries. The two countries also reaffirmed their intention to continue negotiations on outstanding issues with a view to the early signing and conclusion of the agreement. This year, for the first time since its launch in 1993, the Tokyo International Conference on African Development (TICAD) will be held in Africa. The filmmakers chose Nairobi, Kenya, as a symbol of the unique relationship between the two nations. “These are companies that are passionate about Africa,” Abe said.
“I hope my visit will strengthen bilateral relations with Kenya and Africa.” “We look forward to . a further strengthening of relations not only between Africa and Japan, but also between African nations themselves,” Kenyatta said. “Because Africa is rising, ladies and gentlemen. U.S.-Kenya Free Trade Agreement: In July 2020, the United States and Kenya began negotiations on a free trade agreement to reach a high-level agreement that will also complement regional integration efforts within the EAC and AfCFTA. Negotiations were suspended at the end of 2020 until the status of negotiations was reviewed by the new USTR leadership. In addition to opening trade negotiations, the United States and Kenya have agreed on a strategic cooperation framework to provide technical assistance and build trade capacity in Kenya with the goal of maximizing Kenya`s use of AGOA`s trade benefits for the remaining years of the preferential program, which is set to expire in 2025. The framework will also support the development and competitiveness of key agricultural value chains in Kenya. (www.ustr.gov) Multilateral Trading System (MPE): The World Trade Organization (WTO) is the main international organization that deals with the global rules of trade between nations. Kenya has been a member of the WTO since its inception in January 1995. The 10th WTO Ministerial Conference was held in Nairobi, Kenya, in December 2015. The conference resulted in the adoption of the “Nairobi Package”, a series of six ministerial decisions on agriculture, cotton and least developed country (LDC) issues. The last WTO Trade Policy Review of the EAC was scheduled for March 2019.
Although the Kenyan and Japanese governments agree that the relationship has been mutually beneficial, the trade gap between the two countries has long favored Japan and put some Kenyan businessmen in distress. As a result, the Japanese government has steadily increased its aid to Kenya and other African countries. At TICAD VI, a total of 73 agreements were signed, known as the Nairobi Declaration. Among the main agreements is the signing of an agreement between the AfDB and the Sumitomo Mitsui Banking Corporation to promote Africa`s economic development. The two institutions will work together to fund commercial, industrial and infrastructure projects and commercial risk mitigation efforts. Political relations between countries are also unique in sub-Saharan Africa, with many signs of good faith and cordiality between the two nations. Kenya donated $1 million to Japan after the Fukushima Daiichi disaster in 2011. Several prime ministers and members of the Japanese royal family recently visited Kenya, visiting the crown prince in 2010. Similarly, the Kenyan president and countless ministers visit Japan every year. Other agreements are being negotiated with several other countries: Belarus, Ethiopia, Eritrea, Iran, Kazakhstan, Mauritius, Mozambique and South Africa. Japan`s involvement in Kenya began in 1903 and trade between the two countries developed during the 20th century. A Japanese embassy in Kenya was established just six months after Kenya`s independence in 1963.
Japanese companies are interested in African green energy, agriculture, automotive, motorcycle, textile, finance and service projects. Toyota Tsusho is developing geothermal power generation at the Olkaria II power plant in Naivasha, northwest of Nairobi. The company is also involved in fertilizer production in other countries. Toshiba Corporation, an electronics and energy company, has signed an agreement with Kenya Power and Lighting Company on a project that will reduce electricity distribution losses in the national grid. 2. The Republic of Kenya, which leads the East African region both politically and economically, with sustained economic growth averaging 6 per cent per year, has benefited from an increase in investment by Japanese private companies in recent years. This agreement aims to improve legal stability in investment and aims to promote mutual exchanges between people in the context of bilateral investments and strengthen economic relations between the two countries. U.S.-Kenya Trade Memorandum: In parallel with the negotiations on a free trade agreement, the United States and Kenya intend to intensify their efforts to strengthen trade cooperation under the bilateral trade agreement signed in June 2018 and work together to seize trade and investment opportunities in strategic sectors such as energy, health, digital economy, infrastructure, manufacturing and agriculture. One of the highlights of TICAD VI was the launch of the Japan-Africa Public and Private Economic Forum, which aims to serve as a platform for building business relationships between governments and businesses. The forum will bring together the “power of the public and private sectors to forge solutions,” said Mr. Abe, adding that Japanese cabinet members and senior executives will travel to Africa every three years to meet with African companies to find out “what needs to be done so that Japanese and African companies can do more business together in the future.” Bilateral trade agreements: Kenya has signed bilateral trade agreements with several countries: Argentina, Bangladesh, Bulgaria, China, Comoros, Congo (DRC), Djibouti, Egypt, Hungary, India, Iraq, Lesotho, Liberia, Netherlands, Nigeria, Pakistan, Poland, Romania, Russia, Rwanda, Somalia, South Korea, Swaziland, Tanzania, Thailand, Zambia and Zimbabwe.
President Kenyatta paid an official state visit to Japan in early 2015. He met and held talks with Prime Minister Abe. [3] Prime Minister Abe paid a state visit to Kenya in 2016 and also attended the TICAD VI Summit, which was held for the first time in Africa. [4] Participants discussed three priority areas for Africa`s development. The first is economic diversification and industrialization, which require investments in roads, ports, energy and food value chains. The second is building a resilient health system, an issue that has become urgent in the wake of the 2014 Ebola outbreak and the inability of health systems in Guinea, Liberia and Sierra Leone to respond to the outbreak. JICA`s Kenya office oversees JICA`s work in Eritrea, Seychelles and Somalia. President Kenyatta expressed Kenya`s willingness to “support partnerships that ensure that our young people not only get quality jobs, but that our farmers can earn more from their sweat and that at least 90% of their agricultural exports are processed locally.” African Growth and Opportunity Act (AGOA): Kenya is eligible for duty-free access to the U.S. market under the African Growth and Opportunity Act until 2025. Kenya`s most important products that can be exported under AGOA include textiles, clothing and handicrafts. African Continental Free Trade Area (AfCFTA): Kenya was among some 50 African countries that signed an agreement to create the AfCFTA in Kigali, Rwanda, on March 21, 2018, marking a historic milestone in the continent`s economic integration.
The formation of an Africa-wide free trade area creates a single market of 1.2 billion people with a combined gross domestic product of more than US$2 trillion (UNCTAD). About 18,000 participants attended the Kenyatta International Convention Centre, the venue of the conference, including 300 senior executives, 1,700 representatives of Japanese companies and 2,000 Africans. 3. Japan will continue to support Japanese business investment in Africa in preparation for the Sixth International Conference on African Development in Tokyo (TICAD VI), to be held in Nairobi, Kenya, in August this year. . As with the previous five events, leaders used this year`s TICAD to discuss Africa`s socio-economic development, building on the benchmarks of the Sustainable Development Goals and Agenda 2063, a series of efforts adopted by African leaders to transform the continent. .