President Uhuru Calls for Establishment of Export Insurance Guarantee Scheme as Government Launches Export Strategy Documents
His Excellency the Deputy President William Ruto today presided over launch of two strategy policy documents and a national mark of identity that will identify and promote Kenyan goods in the export market.
These included the Integrated National Export Development and Promotion Strategy (NEDPS), the Second Kenya National African Growth and Opportunity Act (AGOA) strategy and action plan (2018 – 2023) and, Made in Kenya Initiative Brand Mark. As the official guest on the Second Day of the Kenya Trade Week, the Deputy President also read on behalf of His Excellency President Uhuru Kenyatta who commended all those who had worked, in any capacity, on the three new strategies. “Your work has been tireless; you have earned our thanks and appreciation” Said the President.
He remarked that export played a vital role in the development of growing nations. “They fuel our growth in our counties; they support good jobs; and they unlock global opportunity for our companies, our farmers, and our workers,” said Mr. Kenyatta.He acknowledged that though some efforts had been made towards growing exports, the performance was not encouraging as reflected in the narrowness of our export products.
“We, therefore, need a national export strategy — a solid plan to broaden our export base, and to find new, more rewarding markets and, not least, brand our products appropriately”. The President tasked Cabinet Secretaries in National Treasury, and Trade and Industry to look into the possibility of establishing an export insurance guarantee scheme to provide export credit insurance support to Kenyan exporters.
He also explained that The “Made in Kenya” brand was meant to set Kenya apart as the home unique products that meet the needs of discerning buyers across the world. He urged manufacturers, producers and small entrepreneurs to take advantage of the new mark to promote their products in new and old markets.
The President also called for a re-evaluation of Economic partnership with various trading blocs with a view of making them more productive.He thanked the Government of the USA, for its support in the development of the AGOA Strategy and the Department for International Development (DFID) of the United Kingdom through Trade Mark East Africa, for the development of a new Export Development and Promotion Strategy.