Kenya calls on German investors to tap potential
23 February 2015, 09:12
Nairobi - Kenya on Sunday called on German business community to tap various investments in the country.
Cabinet Secretary for Foreign Affairs and International Trade Amina Mohamed said Kenya will be able to bridge gap in the bilateral trade, which is currently in favour of Germany, through the export of finished products.
"I wish to urge German traders to increase their import of Kenya's products such as coffee, tea, cut flower, fresh fruits and vegetables," Mohamed told journalists during a joint news conference with visiting German Foreign Minister Walter-Frank Steinmeier.
Bilateral trade between the two countries was at its highest level to date. In 2012, it stands at 415 million euros, while German investment in Kenya stands at around 100 million euros.
Some 100 German companies are operating in Kenya and both officials said the number is set to rise since Kenya is already an attractive market.
According to the officials, the oil and gas deposits found in the northern Kenya, the improved infrastructure and modern telecommunications provide new opportunities for Kenya-Germany cooperation.
Data from the Kenyan government indicated that Germany is Kenya' s single most important coffee export destination as it absorbs the bulk of raw coffee that the country sells globally.
Mohamed said a German firm will soon set a 400 million euro facility at Nairobi's main airport to supply airlines that operate out of Kenya with essential commodities.
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The CS noted that Germany is the third largest source of tourists to Kenya. "We are profoundly grateful that the German government chose not to issue travel advisories in the wake of the security challenges that Kenya has faced in the past."
The German foreign minister, accompanied by a business delegation, said his country and Kenya have enjoyed close bilateral relations based on mutual trust for decades, and are now working closely together to master the global challenges the two countries face.
"Kenya plays an active and constructive role when it comes to regional and international security, the fight against terrorism and drugs, and environmental and climate protection," he said.
He lauded Kenya's efforts to bolster regional integration, noting that support for East Africa cooperation is a cornerstone of Germany's policy on Africa.
Steinmeier added that Germany plans to disburse an estimated 300 million Euros to support the implementation of Kenya's Medium Term Plan II under the national blue print Vision 2030 for the period 2014-2017.
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