Kenya, Botswana Sign Deal to Boost Trade

| April 28, 2015

Kenya and Botswana chambers of commerce yesterday signed a trade agreement aimed at boosting export and import volumes for both countries.

They said trade between the two states has been lean due to induced restrictions and a memorandum of understanding will open opportunities for businesses expansion.

“We believe this partnership will create opportunity for economic growth and job creation in both countries,” Botswana’s high commissioner to Kenya John Moreti said at the ceremony in Nairobi.

The Kenya National Chamber of Commerce and Industry said Kenya’s total exports to Botswana in 2013 amounted to approximately Sh357.1 million.

This largely constituted of vegetables, petroleum oils, medicines, printing and book binding parts, textiles, hand and machine tools, cutlery and furniture.

Imports made up approximately Sh17.2 million and included motor cars, tractors, articles of textiles and plastics.

KNCCI vice chairman Laban Onditi said local investors should consider exploring horticulture, textiles, tea and coffee sectors which remain largely unexploited in Botswana.

“This is a big opportunity for business considering the MoU will ensure that any Kenyan investor in Botswana is treated the same way as a Botswanan and the same will apply here,” he said.

He said KNCCI will sign another MOU with Botswana during a state visit in June 2015 with objectives on enhancing trade, commercial, investment and industrial information exchanges and forming a joint business council to implement the agreement.

The Botswana Confederation of Commerce, Industry and Manpower president Leta Mosienyane said the deepening of relations in the trade spheres with Kenya will be a big win for their businesses which have previously been unable to expand.

He said the lack of business expansion in Botswana has been the major cause of high unemployment rates in the two million people country, that is largely dependent on the industrial sector for economic growth.

“We are thrilled to do business with Kenya,” he said.

Source : The Star

Category: General

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