Noting that development resources from international development partners are dwindling, President Kenyatta said Kenya and Ethiopia must embrace alternative means of financing vital development projects in priority sectors.
“It is time, in fact, to deepen our public-private partnerships and to make the private sector’s efficiencies our own. The prizes are growth economies, new jobs, and better public services,” the President said.
To mitigate challenges associated with high costs of production, particularly in energy, the President asked the private sector and business associations in the two countries to join their Governments in containing undesirable business engagements, especially those involving contraband goods and banned products.
“Your cooperation is to your advantage: you will protect the jobs that ultimately underpin your markets, and investments,” President Kenyatta said.
Addressing the Forum, Prime Minister Hailemariam Desalegn said he would do “all it takes” to promote trade between Kenya and Ethiopia.
He expressed optimism that special economic zones would soon be created on both sides of their common borders to boost trade and investment.
During the business forum, the Kenya National Chamber of Commerce and the Ethiopian Chamber of Commerce signed an MOU on promoting trade and investment between the two countries through people to people interaction.
