Kenya hopes AfCFTA trade deal will boost Lamu port

Kenyan officials have high hopes that the Africa Continental Free Trade Area (AfCFTA) agreement will secure business for the Lamu Port. It targets to use the Special Economic Zone near the new port as a value addition centre for agricultural commodities among them tea and coffee, key exports for Kenya.

Apart from this, the government is also targeting export of avocados and livestock with factories for value addition in canned fruits, vegetable and juices expected to be set up at the SEZ. According to the Kenya Export Promotion and Branding Agency (KEPROBA), the port and SEZ also provide an opportunity for  investors to enjoy manipulation of cargo for re-exportation without paying various duties and taxes. Promotional tariffs among other incentives are in place until May next year.

Lamu is also being fronted as a transshipment hub which involves movement of goods or containers to an intermediate destination, then to another destination.

Source: the-star.co.ke


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