Connect with us

Hi, what are you looking for?

Capital Business
Capital Business
President Kenyatta said the agreement provides solutions to remove bottlenecks that have traditionally hampered intra-Africa trade/FILE

Enterprise

Free trade deal offers Kenya, Djibouti chance to increase partnership – Uhuru

President Kenyatta said the agreement provides solutions to remove bottlenecks that have traditionally hampered intra-Africa trade/FILE

NAIROBI, Kenya, May 10 — President Uhuru Kenyatta has said the Africa Continental Free Trade Agreement offers Kenya and Djibouti opportunity to increase public and private partnerships towards better prosperity.

President Kenyatta said the agreement provides solutions to remove bottlenecks that have traditionally hampered intra-Africa trade.

The Head of State spoke at State House, Nairobi, when he and the First Lady Margaret Kenyatta hosted a State Banquet in honour of Djibouti President Ismail Omar Guelleh, who is in the country for a three day State Visit.

He said the continental trade pact is a significant milestone for Africa as it heralds the dawn of a new era for Africa.

“This will provide impetus towards achieving the African Union flagship projects as projected in Agenda 2063,” said President Kenyatta.

He thanked President Guelleh for being part of the leaders who ushered in the historic agreement for Africa.

Kenya is expected to deposit instruments of ratification of the CFTA to the AU Commission on Thursday this week.

President Kenyatta said President Guelleh’s visit to Kenya will give new energy to drive the cooperation between Kenya and Djibouti especially in people to people partnership.

“I am delighted to note that we have a vibrant community of Kenyan diaspora in Djibouti, who have been working well with our Djiboutian friends in the various sectors of the economy, including the education, banking, hospitality, transport sectors and in the non-governmental organizations,” said President Kenyatta.

He said he takes pride in the contribution by Kenyans in Djibouti economy.

Advertisement. Scroll to continue reading.

“My Government has continuously called on Kenyans wherever they are not only to work towards contributing to our national development agenda, but also to use their capacities to enrich the relations with their host State,” said the President.

He also encouraged the private sector in Djibouti to explore ways of working with Kenya through joint ventures particularly in the Big Four Priority Sectors of providing universal healthcare, construction of affordable housing, manufacturing and value addition as well as food security.

Speaking during the State Banquet, President Guelleh said Kenya and Djibouti have comparatively advantage, which can be optimized and put into qualitative combination to broaden the scope of regional integration.

“Kenya has successfully positioned itself as the African leader in geothermal energy exploration and exploitation, and Djibouti is very much eager to learn from the expertise and know how so as to exploit its enormous geothermal resources,” said the Djibouti President.

He pointed out that the signing of Agreement on Reciprocal Promotion and Protection of Investments would go along way in promoting trade between the two countries as it creates conducive environment for investment.

Earlier in the day the two Presidents oversaw the signing of agreements to deepen the trade and bilateral ties between Kenya and Djibouti.

The agreements signed included Trade Agreement, MoU on Bilateral Cooperation in the Livestock Sector, Agreement on Reciprocal Promotion and Protection of Investments and an agreement on visa exemption for holders of diplomatic passports.

Also present were the Deputy President William Ruto, Cabinet Secretaries, Diplomats and Senior Government officials.

Advertisement. Scroll to continue reading.
Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...