Uhuru announces five proposals to improve trade with Israel

President Uhuru Kenyatta has made five proposals aimed at improving trade between Kenya and Israel.

Addressing an Israel-Kenya business forum in Tel Aviv on Thursday, President Kenyatta said the proposals will go a long way in developing an economic cooperation that will boost trade between the two countries.

The President said the two countries have not exploited their enormous trade potential because of the absence of a framework to facilitate mutual engagement.

In his proposals, the Head of State stated that there is need for the two countries to establish a framework of cooperation between their private sectors and a joint trade committee to look into ways of expediting the growth of trade and investment.

He also pointed out that a pending bilateral trade agreement between Kenya and Israel should be reviewed and effected, and a Kenyan trade mission to Israel organised to follow up on the 2014 Israeli trade mission to Kenya.

President Kenyatta also called for a market survey to identify potential export products for both countries urging respective private sectors in Kenya and Israel to formalise their engagement through Memorandum of Understanding that will enable the monitoring and evaluation of their activities.

The forum was also attended by representatives of major Israeli companies, Kenyan business leaders and government officials.

President Kenyatta said Kenya is one of the easiest countries to do business as a result of deliberate reforms by the government to make the country investor-friendly.

“Your nation will also profit from investing in Kenya, a country which inspires business confidence across the world, and which is a unique access-point to an enormous regional market of over 650 million people,” the President said.

He urged Israeli investors to take advantage Kenya’s vantage position as an economic powerhouse that is a gateway to Eastern Africa.

“Equally, the Tripartite Free Trade Area (TFTA) arrangement has brought together three established regional communities including the East Africa Community (EAC),the Common Market for Eastern and Southern Africa (COMESA) and the Southern Africa Development Community (SADC),” the President said.

“I urge Israeli investors to take advantage of this development.  As Africa consolidates its economies into a continental free-trade area, the business opportunities will only grow.”

He said the government has invested heavily in power generation, the construction of the Standard Gauge Railway and the construction of roads to create an ideal environment for investment.

“Kenya has much to gain from doing business with Israel: we stand to benefit from the knowledge, expertise and technological leadership of Israeli firms, and from the jobs, goods and services that will be made available through the expansion of Israeli business into Kenya,” the President said.

President Kenyatta further noted that Kenya and Israel need to work closely in security matters since the two countries face similar challenges.

“Let us do business together. Let us fight terror together,” said the President at the Carlton Hotel.

Cabinet Secretary Amina Mohamed, Kenya National Chamber of Commerce and Industry’s James Mureu and Israeli business leaders also addressed the event.

President Kenyatta concludes his three-day state visit, the first since he took power, on Thursday.

@benjaminwafula