Trade exchange with Kenya recorded $513m in 2015: Egypt’s Qabil

The trade exchange between Egypt and Kenya reached US$513 million in 2015, Egyptian Trade Minister Tarek Qabil stated Wednesday. He added that the Egyptian exports to Kenya were estimated at US$239 million.

He said that this volume is poor compared to the deep joint relations between two states.

The minister made these remarks during the discussion session held between the Egyptian mission that takes part in the 19th Summit of the COMESA Heads of State And Government and Kenyan Deputy President William Ruto.

The meeting was held in the attendance of Kenyan Cabinet Secretary for Foreign Affairs, Amina Mohamed.

The Egyptian delegation is headed by Ibrahim Mahlab -the Presidential Assistant for National and Strategic Projects.

Minister Qabil noted that the meeting comes to follow up the trade agreement that was signed between Egypt and Kenya during the sixth round of the Egyptian-Kenya Joint Committee. The agreement targets enhancing intra-trade and mutual investments between Egypt and Kenya.

He asserted that the ministry is currently preparing for holding the first meeting of Egypt-Kenya joint trade committee in Cairo within the upcoming period.

Qabil clarified that the meeting discussed the importance of enlarging mutual economic cooperation between two states within the coming period notably in industrial fields through building and managing industrial zones and area, establishing centres for industrial information, sharing expertise in technical training field.

During the discussion session, both sides showcased means of activating trade movement between Egypt and Kenya through establishing logistics trade centre in Kenya to promote Egyptian.

On other side, Deputy President Ruto emphasised that his country keens on enhancing the mutual economic cooperation with Egypt.

He also emphasised on the importance of achieving trade and industrial integration between states of COMESA bloc.