The Singaporean Government has officially opened the Enterprise Singapore’s Nairobi office which seeks to deepen promotion of trade, investments and enterprise development between the two countries.
In an event graced by , Singapore’s Deputy Prime Minister and Coordinating Minister for Economic and Social Policies, Adan Mohamed, Cabinet Secretary, Industry, Trade and Cooperatives credited Singapore’s contribution to key segments of the Kenyan economy including
CS Mohamed noted that the new hub will help bridge the trade deficit between the two countries in support of the Government’s big four agenda.
Last year, Singapore imported products worth USD 3.6 million from Kenya.
During the same year, Singapore’s exports to Kenya amounted to USD 56.5 million worth of products.
Kenya’s main exports to Singapore include tea, coffee, fruits, nuts, tobacco, fish and vegetables.
Singapore’s major exports to Kenya include petroleum products, polymers of ethylene, plant machinery and equipment data processing machine and telecommunications equipment.
Shanmugaratna lauded Kenya’s positioning in the East and Central Africa region and the ongoing trade reforms as impetus for the bilateral trade between the two countries.
“I believe that this office will play a significant role in deepening and opening new markets and investments between Singapore and Kenya as well as the East and Central African Region.”
Kenya’s ideal positioning provides a launching pad to penetrate the enormous market of over 650 million people of the African Continental free Trade Area and Tripartite Free Trade Area arrangement.
This market brings together three (3) established Regional Communities of the East Africa Community (EAC), the Common Market for Eastern and Southern Africa (COMESA) and the Southern Africa Development Community (SADC).