Anti-dumping agency set up plan takes shape

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Economy

Anti-dumping agency set up plan takes shape

Trade Principal Secretary Chris Kiptoo. FILE PHOTO | NMG  

Kenya has stepped up efforts to set up an agency to curb dumping of cheap imports into the country as the State bets on manufacturing sector to drive growth.

A technical team backed by funding from Trade Mark East Africa arrived in the country last week to help the Ministry of Trade set up the Trade Remedies Agency, which will help the country craft protective measures to safeguard the locally manufactured goods from unfair competition.

Trade Principal Secretary Chris Kiptoo said the agency will work with the local firms and traders to identify the most vulnerable products that require safeguards.

“We are going to be able to take some steps to help protect our vulnerable industries from dumping. This team will work with the industries to line up which industry we will give priority. This is an important trade defence measure and we hope to have the agency up before the end of the year,” Mr Kiptoo said.

Kenya will become the third country in Africa after Egypt and South Africa to set up an agency to help protect its market from dumping.

An exporting company is said to be “dumping” when it exports its product(s) at a price lower than it would sell at home (the exporting country). The move comes as more trade blocs are set up within the continent including the Continental Free Trade Area (CFTA) that brings together all the members of the African Union.



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