Kenya to tap trade with Latin America Caribbean countries


Kenya to tap trade with Latin America Caribbean countries

The government has reached out to Latin American and Caribbean countries to increase investment in Kenya given the changing global economic policies.

President Uhuru Kenyatta says global trade is increasingly coming under pressure due to over reliance of traditional trade partners.

The recent decision by the United Kingdom to exit the European Union and election of Donald Trump as the 45th president of the US are seen as key factors that will change trade dynamics going forward.

President Kenyatta says trade between Kenya and Latin American and Caribbean countries remains low.

Trade between African Countries and Latin America in 2015 stood at five trillion shillings with Kenya looking to strengthen its ties.

President Kenyatta made the remarks as he met a business delegation from first Latin America Caribbean Africa Trade Summit being held in Nairobi.

The summit is aimed at creating and strengthening trade ties between the African, Latin American, Caribbean countries so as to improve the economies of both continents, tapping into new and unexplored markets and potential.

At least 30 companies drawn from Argentina, Colombia, Costa Rica and Jamaica are attending the summit.

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