Connect with us

Hi, what are you looking for?

Capital Business
Capital Business
US budget books/FILE

World

US eases export rules on aerospace parts

US budget books/FILE

US budget books/FILE

WASHINGTON, Apr 17 – The United States on Tuesday eased rules on the export of select items in the aerospace industry, in an effort to reduce regulations that are thought to be putting American firms at a disadvantage.

The State Department said it was moving a series of “less sensitive items” from the US Munitions List, which regulates exports, to a separate list maintained by the Commerce Department and seen by industry as less strenuous.

“These reforms will allow the US government to better focus on controlling the export of sensitive technologies remaining on the US Munitions List while streamlining exports of defense-related items to US allies and partners around the world,” a State Department statement said.

The items include parts and components related to aircraft and gas turbine engines, areas that the State Department said accounted for more than $20 billion in annual exports.

US-friendly nations and American businesses have long complained about excessive restrictions in the United States. India, which is planning major investment in its defense, has cited such regulations as a reason to look at competing products from Europe and Russia.

The changes are the first to be finalized since President Barack Obama in 2009 announced an initiative to reform export controls, with more far-reaching changes under study.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...