Wednesday, December 25, 2024

Egypt to Invest in Kenya

Egypt to Invest in Kenya

This article was originally published on kbc.

Agriculture Cabinet Secretary Felix Koskei and Egypt’s Foreign Trade and Industry Minister Mounir Fakhry Abdel Nour have agreed that the Egyptian Government will send a team of experts to Kenya to explore opportunities for strengthening economic ties in order to champion intra-Africa trade and South-South cooperation.

Noting that Egypt imports 93 percent of its tea from Kenya, Agriculture Cabinet Secretary Felix Koskei and Egypt’s Foreign Trade and Industry Minister Mounir Fakhry Abdel Nour agreed to facilitate Kenya’s plans to acquire a warehouse in Cairo for trading and promotion of Kenyan products.

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They two further agreed to organize a Kenyan Trade Fair in Cairo in coming months to specifically promote Kenyan products in Egypt and further deepen trade ties between the two countries.

Koskei is now calling on Egypt to increase meat imports from Kenya.

“Kenya has adequate livestock that can provide quality meat and meat products for the Egyptian market,” said Koskei.

NCBA

The Egyptian Foreign Trade Minister is urging Kenyan exporters to evaluate the potential of exporting live animals to Egypt in order to address concerns of high comparative transport cost in relation to meat exports from countries such as Ethiopia and Sudan.

Koskei who is on a five-day visit to Egypt to promote government-to-government cooperation in agriculture also attended the official opening of the 48th Cairo International Trade Fair by Egyptian Prime Minister Ibrahim Mahlab.

The Egyptian Premier says he is impressed by the high level of displays at the Kenya stand and appreciates the opportunities available for horticultural, coffee, tea and fibre products exhibited at the Fair.

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source:kbc

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