KENYA, TANZANIA PLAN TO ENHANCE BILATERAL TRADE AND INVESTMENT

NAIROBI– Kenya and Tanzania are planning to increase investments in agricultural value addition as well as manufacturing to enhance bilateral trade, says Kenya’s Cabinet Secretary (Minister) for Agriculture, Mwangi Kiunjuri.

In February 2018, there were concerted efforts by both the Tanzania and Kenyan governments to stave off a brewing trade war between the two countries, with consensus reached by senior government officials from the two neighbouring countries.

Now, the efforts seem to be paying off after the first ever “Made in Tanzania Exhibition” opened its doors in Nairobi.

Kiunjuri says two-way trade volumes are bound to rise, buoyed by the windfall from investments, especially in the agriculture and manufacturing sectors.

According to the 2017 Economic Survey data, trade between Kenya and Tanzania constitutes more than 45 per cent of the entire trade within the six-nation East African Community (EAC), whose members have been urged to adopt inclusive policies to increase the trading bloc’s competitiveness globally.

The expo here has attracted the participation of Tanzanian companies from the oil and gas sector, agro-chemicals, tourism and hospitality, among others.

Source: NAM NEWS NETWORK