Kenya seeks grater role for Africa in advancing global trade

Kenya is seeking to leverage its new position as President of the Trade and Development Board (TDB) to push for higher trade investment in Africa.

Kenya which assumed presidency of the TDB of the United Nations Conference on Trade and Development (UNCTAD) chaired the 73rd Session of the board which is expected to help coordinate action to unlock opportunities for productive transformation, development financing, technology, economic diversification and investment, advancing inclusive and sustainable development.

According to the Ministry of Trade, the role positions Kenya to shape deliberations that will feed into items for consideration by the UN General Assembly, amplifying African priorities in global economic governance.

“Under Kenya’s chairmanship, the TDB is addressing acute global trade shocks most notably disruptions in the Strait of Hormuz and their cascading effects on energy, fertilizer, and commodity markets,” said the ministry.

The ministry said role also presents a significant responsibility and an important opportunity to advance inclusive, sustainable and equitable global trade and development.

The Session reviewed major economic and trade challenges facing African countries and identified areas requiring international support and cooperation with UN agencies and other international financial institutions with a view to build an inclusive, sustainable and development-oriented Africa.

Outcomes from the 73rd TDB session will inform agenda items for the UN General Assembly, giving Kenya a direct channel to elevate African trade and development priorities into the wider UN system, the ministry said.

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