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Mohamed upbeat as Iran, Kenya ink MoU

20 August 2014, 15:37

Nairobi - Foreign Affairs Cabinet Secretary, Amina Mohamed, said the memorandum of understanding (MoU) with Iran would increase local investments and widen the range of opportunities available to Kenyans.

The two countries have signed an MoU on economic, scientific and technical cooperation.

Iran and Kenya signed MoUs on Energy and Oil, Agriculture, Transport and Infrastructure, Water,  Irrigation, Housing and Health.

“I wish to encourage Iranian investors to take advantage of signed MoU to invest in Kenya,” said Mohammed, who attended the sixth Joint Economic Cooperation in Iran.

“There are unfolding investments opportunities in the energy sector in Kenya following the discovery of oil and gas reserves in the recent past,” she added.

She added that the trade balance between Kenya and Iran favoured Iran and the gap could be bridged through increased Iranian imports from Kenya.

She said that there was need to re-establish direct flights from Nairobi to Tehran to facilitate commercial exchanges.

Mohamed said Iran was a major importer of Kenya’s tea and there was vast potential that remains untapped in the sector.

She invited Iranian Government and private sector to explore investment opportunities within the Kenya Medium Term Plan.

She told them that there is increase in the volume of tea exported from Kenya to Iran from 2 million kg to more than 10 million kilograms over the last five years.

– CAJ News

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