Efforts to boost local industries have received a major boost with the formation of the Kenya Trade Remedies Agency.
The board will help investigate and evaluate allegations of dumping and subsidization of imported products in Kenya.
Trade Cabinet Secretary Betty Maina has directed the new board to move expeditiously to develop the new trade defense tools to safeguard the Kenyan industries.
Kenya’s efforts to deal with the endemic issue of dumping has for a long time been hampered by lack of clear policies and enforcing agency, making local industries a punching bag of cheap imports.
In 2017, the government formed the Kenya Trade Remedies Agency to boost the war against imports posing unfair competition to locally produced merchandise.
Kenya is now the 3rd Country in Africa to constitute a Trade Remedies Agency in line with WTO. KETRA is expected to cushion local firms from unfair trade practices arising from dumping and subsidies. @maina_betty @IndustryKE @ForeignOfficeKE @ExportsKenya @AUTradeIndustry @wto pic.twitter.com/1m1Itlwj4F
— Trade Kenya (@Trade_Kenya) June 30, 2020
However the agency has remained grounded due to lack of a board.
Wednesday the KETRA board has been inaugurated, with the Trade Cabinet Secretary Betty Maina urging the agency to move with speed to develop policies and guidelines that will strengthen local industries.
The growth of the manufacturing sector in Kenya has stagnated in the last ten year, currently contributing about 9 percent to Kenya’s wealth annually.
Weakening manufacturing base has been blamed on unfair import trade practices from Kenya’s trading Partners, a huge influx of Illicit goods namely counterfeits, un-customed, Pirated, Contraband and Substandard goods, as well as weak production and supply capacities.
KETRA is expected to cushion indigenous firms from unfair import competition, by applying Trade Remedies Measures in accordance with World trade organizations principles to protect domestic industries.