Kenya, Egypt target increased bilateral trade during October forum

Kenya and Egypt are targeting to increase bilateral trade between the two nations during the upcoming Egypt Kenya Business Bridge Forum slated for next month.

The forum which is being organized in collaboration with the Kenya National Chamber of Commerce and Industry (KNCCI) and the Kenya Private Sector Alliance (KEPSA) comes on the heels of a the Egypt – Kenya Business Matching Forum held in January this year as the two Common Market for Eastern and Southern Africa (COMESA) member states seek collaboration in areas related to trade liberalization and investment promotion.

“The forum seeks to develop links between more than 34 leading Egyptian manufacturers with trade opportunities and to build valuable contacts with their Kenyan counterparts, as well as connecting Kenyan business communities eyeing the Egyptian market with the right trade partners,” said Khalid El Abyad, Egypt Ambassador to Kenya.

According to Abyad, the Egyptian trade mission will be led through Egyptian Commercial Services (ECS) at Ministry of Trade and Industry (MTI) which is designed to help interested Kenyan Companies and traders to get in touch with the right counterparts in Egypt.

This is expected to save companies valuable time and resources, and lead to better matching with the required prospective distributors, sales representatives, or partners.

Participants in the forum will have a chance to engage in Business-to-Business meetings with foreign industry executives and government officials,   pre-screened to match specific business objectives whether for representation, direct sales, or joint ventures in the local markets.

“Egypt seeks to expand its cooperation and investment in Africa and create investment partnerships in all economic fields and sectors in implementation of the political leadership’s directives to open up to Africa, increase trade exchange, open new markets for Egyptian exports in Africa and vice versa, and activate the implementation of the COMESA agreement,” added Abyad.

Bilateral trade between the two nations has continued to rise with trade volume of goods increasing by 4.7pc to reach almost Ksh 80 billion ($666 million) in last year.

During the year, Egypt also became second largest global importer of Kenyan tea with sales totaling Ksh 21.3 billion ($177.3 million).

Among sector to be represented during the October forum include chemical and fertilizers, building and construction and trade.

  

Latest posts

Petrol price rise warning after Opec oil output cut

Ronald Owili

Govt. mulls financing KTDA to expand tea export markets in Africa

Ronald Owili

Elon Musk Twitter deal back on in surprise U-turn

Ronald Owili

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

%d bloggers like this: