Vastavam web: Commerce Minister Suresh Prabhu has asked Indian businesses to carry out a market study to identify priority areas for expanding cooperation with Kenya, as the country eyes fresh avenues to boost bilateral trade with the African nation. The Eighth Session of the India-Kenya Joint Trade Committee meeting was held in Nairobi, the capital city of Kenya from August 22-25.
“Addressed the India-Kenya Joint Business Council today in the presence of industry leaders & business representatives from both countries. Invited Kenyan businesses to invest in India and urged Indian businesses to research key priorities & design products specific to Kenyan needs,” Prabhu tweeted after the meeting. “We are keen to explore new opportunities in logistics, agriculture, energy, pharma and many other sectors with Kenya,” the minister had tweeted after landing in Kenya.
The joint trade meeting took place against the backdrop of India’s exports to Kenya dropping to USD 1.97 billion in 2017-18 from from USD 4.11 billion in 2014-15. India’s imports from Kenya too slowed down from USD 117.42 million to USD 72.57 million during the same period. The meeting covered India’s contribution in implementation of Kenya’s Big Four Agenda food security, affordable housing, universal healthcare and manufacturing, expansion and diversification of bilateral trade – an official statement said.
The two sides also deliberated upon issues like Kenya’s readiness to join the International Solar Alliance, implementation of Lines of Credit of over USD 220 million, extended by India in power transmission, SMEs development, revival of the Rivatex factory and agricultural mechanisation. A meeting of India-Kenya Joint Business Council was held on the sidelines of the joint trade committee meeting.