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Uhuru eyes growth in business between Kenya and Ethiopia

11 March 2014, 22:21 Victor Tinto

Nairobi - President Uhuru Kenyatta says that there is room for growth in business between Kenya and Ethiopia.

He further added that he expected the two countries to continue to build connections and ensure growth in trade and development.

The head of state was speaking during the Ethiopia-Kenya business forum in Addis Ababa Ethiopia Tuesday.

" It is a central aim of our visit to lay the foundation for robust economic and commercial relations between our two peoples and while our countries already trade very extensively, there remains room for the expansion of mutual business and investment opportunities. That is why I am pleased not only to speak to players in commerce and business, but to also listen to their proposals, he said.

He urged the two countries to edge further forward in seeking improvement of services and enhancement of technological innovation.

" I can disclose that Kenya stands ready to begin consultations for the regulations and guidelines that would allow Ethiopian companies to raise investment capital and trade at our Nairobi Securities Exchange" More importantly, we are enthused by the possibilities for point ventures between our businesses, and particularly by the potential for cross listing on regional bourses, he added.

He further added that there need to be development of the youth to encourage growth of both countries both socially and economically.

" I spoke of our young populations. That age structure presents us the challenge of finding dignified work for our young people a challenge made all the steeper by global economic difficulties. The burden falls as heavily on private sector leaders as it does on governments. It is your duty to work as closely as you can with us to employ our youth, and secure new markets for your goods and services.

President Kenyatta is on a four day state visit to Ethiopia.

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