Kenya, Britain vow to boost trade

The Kenya National Chamber of Commerce and Industry (KNCCI) and the British Chambers of Commerce on Thursday signed a Memorandum of Understanding (MOU) that will enhance bilateral trade between the two countries.

KNCCI Vice Chairman Laban Onditi told a joint Kenya-Britain business forum in Nairobi that the MOU will provide a framework for the implementation of all commercial agreements signed by the two states.

"The agreement will take the business component of the bilateral ties to the next level," Onditi said during the signing ceremony witnessed by Kenya's Cabinet Secretary for Foreign Affairs Amina Mohamed and the visiting British Foreign Secretary Philip Hammond.

Hammond said in order to accelerate trade between the two nations, Britain has appointed a dedicated trade envoy. He urged Kenya to redouble its efforts in fighting corruption.

"Elimination of corruption will ensure that the fruits of economic growth are more evenly distributed throughout the population," he said, adding one of ways for Kenya to achieve double digit growth is through defeating corruption.

He also urged Kenya to implement a visa regime that will allow foreign skilled expatriates to get work permits to work in Kenya so as encourage technology transfer.

Mohamed urged Britain to increase investments in Kenya in order to tap into Kenya's favorable business climate.

"Kenya's oil and gas as well as the hospitality sector offer huge opportunities for foreign investors," Mohamed, adding that the entire Kenyan leadership is committed to defeating corruption.

British High Commissioner to Kenya Christian Turner said that there are over 100 British firms that have invested in Kenya, and approximately 25,000 British citizens who are based in Kenya. "We are also the largest source of international tourists to Kenya," he said. Endi