Thursday, April 18, 2024

Kenya and Canada set eyes on trade growth amidst decline

Commerce and Funding Cupboard Secretary Rebecca Miano just lately made the intentions of the Kenyan authorities often known as it pertains to its financial partnership with Canada, as seen within the Kenyan newspaper, The Star.

She talked about that Kenya is dedicated to enhancing the enterprise local weather through robust partnerships with the non-public sector.

Information from the United Nations COMTRADE database on worldwide commerce exhibits that as of 2022, Kenya’s exports to Canada amounted to $18.71 Million (Sh2.7 billion).

Nevertheless, the final two years have seen a decline within the quantity of products traded between each nations, notably imports from Canada into the East African nation, which declined in 2020 and 2021.

The Commerce and Funding Cupboard Secretary famous that a number of negotiations from the ministry are already in play to inflate market entry via varied bilateral, regional, continental, and multilateral agreements.

Miano acknowledged in the beginning of the second version of the Canada-Africa Enterprise Discussion board that Kenya is the gateway to Africa and that deciding on Nairobi because the host for the 2nd Canada-Africa Enterprise Discussion board was the most effective plan.

“Kenya is the gateway to Africa and subsequently your selection of Nairobi because the venue for this 2nd Canada–Africa Enterprise Discussion board is little doubt strategic,” she stated.

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