{"id":687,"date":"2008-08-13T00:00:00","date_gmt":"2008-08-13T00:00:00","guid":{"rendered":"https:\/\/www.capitalfm.co.ke\/?p=687"},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-29T21:00:00","slug":"kenya-iran-yet-to-sign-trade-pact","status":"publish","type":"post","link":"https:\/\/www.capitalfm.co.ke\/business\/2008\/08\/kenya-iran-yet-to-sign-trade-pact\/","title":{"rendered":"Kenya, Iran yet to sign trade pact"},"content":{"rendered":"<p><span style=\\\"font-weight: bold;\\\">NAIROBI, August 13 &#8211; The Iranian government has said that it is still awaiting Kenya&rsquo;s response on the need to sign a trade agreement between the two countries.<\/span><br style=\\\"font-weight: bold;\\\" \/><br \/>Commercial Attach&eacute; at the Iranian Embassy Abbas Sadreddini said Kenya had not made known its decision on the proposal to establish a Preferential Trade Agreement (PTA) between the two countries.<\/p>\n<p>The proposal, he said had been made in 2007 during the fourth session of the commission between Kenya and Iran in Tehran.<\/p>\n<p>He said Wednesday that if signed, trade between the two governments would be increased and bilateral ties strengthened.<\/p>\n<p>&ldquo;I&rsquo;m optimistic that we will sign that agreement,&rdquo; he expressed.<\/p>\n<p>When the draft is signed, the PTA agreement will replace the Memorandum of Understanding (MOU) by the two governments in 1988.<\/p>\n<p>Kenya has several MOUs with Iran including one for sports, expansion of housing and urban development.<\/p>\n<p>The fifth session of the commission is currently underway in Nairobi.<\/p>\n<p>The three-day conference, which opened on Tuesday and attended by delegations from the two countries, is holding discussions on among other areas on livestock, agriculture and energy.<\/p>\n<p>Sadreddini said the two parties had approved the final draft which contained the setting of a tractor factory, an assembly plant for motor bikes and the exportation of tea to Iran.<\/p>\n<p>He said the Iranian government was also interested in establishing a cement factory and a tannery in Kenya.<\/p>\n<p>They would be looking at exporting medicine, which they offer at competitive price.<\/p>\n<p>&ldquo;We would also be interested in opening a subsidiary of one of our banks,&rdquo; Sadreddini he added.<\/p>\n<p>It is estimated that trade between these two countries in 2006 stood at about US $10 million.<\/p>\n<p>Most of the Kenyan tea that is exported to Iran is sold through the black market Iran brings in tractors.<\/p>\n<p>On Tuesday, the two countries signed an agreement to have Iran import meat and tea from Kenya.<\/p>\n<p>He was however non-committal on whether Kenya had expressed interest in purchasing oil and related products from Iran.<\/p>\n<p>The official said trade fairs between Kenya and Iran would be enhanced so as to provide a forum where the two parties can display its products as a way of bolstering trade between them.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NAIROBI, August 13 &#8211; The Iranian government has said that it is still awaiting Kenya&rsquo;s response on the need to sign a trade agreement between the two countries.Commercial Attach&eacute; at the Iranian Embassy Abbas Sadreddini said Kenya had not made known its decision on the proposal to establish a Preferential Trade Agreement (PTA) between the [&hellip;]<\/p>\n","protected":false},"author":12336,"featured_media":688,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"coauthors":[],"class_list":["post-687","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kenya"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.7.1 (Yoast SEO v27.5) - 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