M a r k e t N e w s

Kenya partners with Canada-Africa Chamber of Business to boost trade

Posted on : Monday, 26th April 2021

Kenyan companies are poised to benefit from international trade and investment opportunities in North America after being full-time members of the Canada-Africa Chamber of Commerce.

 

Via knowledge exchange and networking activities, the 27-year-old private, non-profit organization aims to accelerate Canada-Africa trade. It brings together important African decision-makers, including ministers and heads of state, as well as businessmen, entrepreneurs, and policymakers.

 

“I am delighted to invite an African center and a representative on the continent on behalf of the board,” said the chamber's chair Sebastian Spio-Garbrah in Ottawa, Canada.

 

In 2019, Kenya had a trade deficit with Canada of Sh11 billion. According to the Kenya National Bureau of Statistics (KNBS), the country imported products worth Sh13.9 billion from Canada in 2019, representing a 56% growth from Sh8.9 billion in 2018. In 2019, exports to Canada totaled Sh2.9 billion, including vegetables and textiles.

 

Following its entry, Kenya will host the Second Session of the Kenya-Canada Bi-National Commission meeting on trade and investment in Nairobi.

 

A memorandum of understanding (MoU) between the Kenya Private Sector Alliance (KEPSA) and the chamber is also being signed, as is a virtual trade mission from Canada to Kenya in the second half of May.

 

‘We are excited to benefit from the experience and skills gained over a quarter-century of fostering trade and investment between Canada and Africa,' Kenya High Commission in Ottawa Charge d'Affaires Stephen Lorete said.

Source : ltzjhm.co.ke
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