Kenya aims to unlock trade, investment potential

Underscoring the need for removing trade barriers, Kenyan Deputy High Commissioner Daniel Nganda said the Kenyan mission in Pakistan is dedicated to unlocking the full potential of trade and investment between the two countries by working alongside governmental and private stakeholders.

"To strengthen bilateral ties, we must develop mechanisms to address and eliminate trade barriers, organise joint business networking sessions, seminars, conferences, exhibitions and trade fairs," he proposed while speaking at a meeting at the Karachi Chamber of Commerce and Industry (KCCI).

The Kenyan deputy HC said, "Trade, in my view, is not merely conducted on paper but with purpose. This necessitates collaboration between our governments to eliminate trade bottlenecks through relevant regulatory bodies. Our goal is to foster a business-friendly environment that facilitates smooth exchange of goods, services and investments."

He called Karachi a pivotal city in Pakistan, which represented a substantial share in the nation's commercial interests. "We recognise Karachi's importance as it serves as a gateway for Kenyan goods, including tea, to access the Pakistani market and beyond."

He reaffirmed the Kenyan High Commission's commitment to expanding the trade and investment portfolio between the two nations. "While we have initiated numerous efforts to bolster economic cooperation, there remains untapped potential in our bilateral relations. Hence, we are eager to send business delegations and participate in high-level business-to-business meetings to explore new avenues of collaboration," he added.

Earlier, KCCI Senior Vice President Ziaul Arfeen said to further enhance trade and exports between Pakistan and Kenya, it was crucial to diversify the trade basket by including value-added food products such as vegetables and citrus fruits, textile products, pharmaceuticals, surgical instruments, electrical appliances, cosmetics, leather goods, IT products and financial services. Expansion of trade in these sectors will create new opportunities for both countries and strengthen economic ties.

He said Pakistan spent approximately $657 million annually on tea imports from Kenya. With Kenya's technical assistance, Pakistan can invest in R&D activity for cultivating high-yielding, disease-resistant tea and coffee varieties suited to its climate and soil.