Kenya, Turkey aim for 1 bln USD bilateral trade by 2021

Kenya and Turkey have set a target for bilateral trade to reach one billion U.S. dollars by 2021.

The ambitious target was announced on Thursday after talks between visiting Turkish President Recep Tayyip Erdogan and his Kenyan counterpart Uhuru Kenyatta in Nairobi.

"Both President Erdogan and I agree that the trade volume between our two countries is unacceptably below our expectations and we are committed to see this figure increased to a much higher level," said President Kenyatta in a statement issued after the meeting.

On his part, President Erdogan said: "The trade between our countries stands at 144 million dollars and this is insignificant."

The two leaders expressed confidence that the trade target could be met.

They also agreed to fast track the signing of an agreement over the issue of double taxation, and to cooperate on the creation of a trade agreement that Turkey is seeking to ink with the Eastern Africa region.

Erdogan said Turkey wanted to strengthen its traditional ties with Kenya and use the relationship to access the wider Eastern Africa market.

Experts say Kenya, which has a population of about 45 million, has great potential to increase trade with Turkey in the oil, machinery, energy, motor vehicle, iron and steel industries.

Turkey's exports to Kenya stood at 131 million U.S. dollars in 2015, with tractors, vehicle parts and flour being the main items.

Erdogan, who arrived in Kenya with a group of businessmen, said his government was ready to support Turkish businessmen to invest more in Kenya.

"Our meeting has had positive outcomes for the relations between Kenya and Turkey," he said.

Kenyatta called on Turkey to invest in sectors like renewable energy, infrastructure, agro-processing and manufacturing in Kenya. Endit