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By:
Martin Mwita | |||||||||
| Posted:
Jan,13-2023 07:08:11
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| Kenya and Canada have committed to strengthening bilateral trade and investment between the two countries. This follows a meeting between Investment, Trade and Industry CS Moses Kuria and Canada’s Minister of International Trade, Export Promotion, Small Business and Economic Development, Mary Ng. “During the meeting, Ministers Ng and Kuria discussed the priorities and ongoing efforts of the Ottawa Group on WTO reform, including dispute settlement reform, and how to make progress on these and other initiatives in the lead-up to MC13,” the Canadian government said in a statement. Minister Ng highlighted Canada’s commitment to fostering a close partnership with Kenya, especially growing our bilateral commercial ties in the clean technology, Internet and communications technology, education, services and infrastructure sectors. She underlined Canada’s commitment to cooperation in areas of shared interest that facilitate trade and investment opportunities for Canada and Kenya. “We have discussed matters cooperation, bilateral trade and investment opportunities here in Kenya with the aim of having a successful and beneficial working relationship between the two countries,” CS Kuria said on his Twitter page. The value of trade between the two countries has remained low over years, with imports from Canada declining for two consecutive years, in 2020 and 2021. According to Kenya’s Economic Survey 2022, Kenyan imports from Canada were valued at Sh8.7 billion in 2021, down from Sh10.4 billion in 2021, and Sh13.9 billion the preceding year. Kenya exported goods worth Sh2.2 billion to Canada in 2021, up from Sh1.2 billion. Since coming into office, CS Kuria has been aggressive in seeking trade and investment partners, which could create more markets for Kenya. China however remains the single leading source of Kenya’s imports, accounting for 20.5 per cent of total imports valued at Sh441.4 billion in 2021. | |||||||||
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Source:
The Star
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