President Kenyatta encourages private sector to exploits trade potential between Kenya and Mozambique

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President Uhuru Kenyatta
President Uhuru Kenyatta at a past event. PHOTO/COURTESY

President Uhuru Kenyatta on Wednesday evening challenged the private sector to exploit the huge trade potential between Kenya and Mozambique.

President Kenyatta was speaking during a Kenya-Mozambique business forum held at the Villa Rosa Kempinski Hotel in Nairobi that was attended by many dignitaries; key among them was Mozambique President Filipe Nyusi who is currently on a state visit to Kenya.

According to President Kenyatta trade between the two nations has been growing at a slow pace despite the existing huge potential for growth.

“Kenya and Mozambique have so far largely traded in manufactured goods. This is encouraging since in 2017 alone, Kenya’s imports from Mozambique were worth 31 million US dollars (Ksh 3,173,160,000) while exports were valued at 12 million US dollars (Ksh 1,228,320,000),” President Kenyatta said.

“Kenya’s private sector should diversify its exports and also tap into new investment opportunities that Mozambique offers including business openings in mining, oil and gas sectors.”

President Kenyatta also encouraged the business community to take advantage of the bilateral agreements and favourable trade policies the two countries put in place following the Heads of State earlier signing of a deal that abolished the need of visas for citizens of Kenya and Mozambique travelling between the two nations.

In that regard, the two Heads of State vowed to work closely together to successfully implement all agreements signed between the two nations.

On his part; President Nyusi said Kenya and Mozambique have strong bonds because they share a history stretching back to more than a millennium and that the people of the two nations are related.

The Mozambique President urged the private sector in both countries to spearhead the expansion of economic partnerships between Kenya and Mozambique especially in sectors such as agriculture, agribusiness, minerals and tourism.

“We should enhance partnership between our private sectors,” said President Nyusi, who noted that his country can share its experience in fishing with Kenya.

In addition, President Nyusi confirmed Mozambique’s participation in the upcoming Blue Economy Conference to be held in Nairobi from Monday next week. President Nyusi will lead the Mozambique delegation at the conference where 11 Heads of State and 8,000 delegates are expected to attend.

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