Kenya, China bilateral trade on upward trend

June 29, 2016
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Official data indicates that bilateral trade between China and Kenya rose 53 percent to a record high of over $5 billion in 2014/FILE
Official data indicates that bilateral trade between China and Kenya rose 53 percent to a record high of over $5 billion in 2014/FILE

, NAIROBI, Kenya Jun 29- Kenya is for the second time hosting the China Trade week Expo which kicked off on the June 29 to July 1 at the Kenyatta International Convention Centre (KICC) in Nairobi.

Official data indicates that bilateral trade between China and Kenya rose 53 percent to a record high of over $5 billion in 2014.

During the official opening of the Expo China ambassador to Kenya Liu Xianfa said the mutual trade between Kenya and china is deepening every day.

“China will continue partnering with Kenya, helping it in building more industries and fulfil modernised products” he said.

He said the 3-day event is designed to provide Chinese companies with a unique opportunity to meet, discuss and develop trading and business partnerships with both Kenyan entrepreneurs and the region’s business community across various commercial sectors.

Liu said that China has become Kenya’s largest source of foreign Direct Investment and second largest partner.

He estimated that in 2013, China’s cumulative direct investment in Kenya had reached US$474 million and during the same year the bilateral trade volume had risen to US$8.4 billion.

Director of Meeting Incentive Events (MIE) David Wang says the ongoing trade week expo has improved this year where they have prepared different sectors for lighting and furniture as people requested last year.

“We strongly believe that this event will provide an opportunity for Kenyan entrepreneurs to grow strong business partnerships with Chinese companies and benefit from the industrial capacity,” he said.

He said a lot of Chinese companies are keen to expand their operations into developing countries such as Kenya.

MIE International Director Gary Robinson said China has, over the past decade, become one of Kenya’s largest trading partners.

“This is because China produces goods that meet the needs of the local population,” he said, adding that the trade fair will also provide an opportunity for Chinese firms to establish joint venture manufacturing units with Kenyan companies.

He said a lot of small and medium size companies are under pressure to source high quality goods at competitive prices and that china offers the most competitive price for most manufactured goods.

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