KNCCI Vows to Address Issues of Trade Imbalance Between China and Kenya

The Kenya National Chamber of Commerce and Industry has expressed its commitment to foster stronger trade and investment ties between China and Kenya as well as help bridge the existing trade imbalance with China.

Cynthia Kamau, a national director at the Kenya National Chamber of Commerce and Industry, said the chamber office that was opened in Changsha, the capital of central China’s Hunan province in October 2023 to facilitate trade, has generated positive results.

She said the office has already facilitated over $2.3 million worth of new Kenyan business ventures into the Chinese market involving mainly the tea sector, adding that some Kenyan companies are displaying their products in the office.

Kamau expressed optimism that the Forum on China-Africa Cooperation that kicks off on Wednesday will provide another opportunity for the chamber members to sign more trade deals.

“At the FOCAC, we are expecting to see many trade deals being made. We are expecting to see interactions between our business people and the Chinese businesses,” she said.

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She said the business lobby will be sending a delegation to the summit, to look for trade and investment opportunities, noting that the implementation of the summit outcomes are basically implemented by the business people.

“We will be very focused, looking for opportunities, listening to the conversations and come back and give that information to our business people,” Kamau said.

She said the trade lobby anticipates that Chinese companies will engage in contract farming in Kenya, noting that in China there is a huge demand for Kenyan products like avocado but the East African country has no capacity.

“This capacity can only be bridged when there are investment collaborations like contract farming,” she said, adding that FOCAC will provide an opportunity for Kenyan traders to interact with their Chinese counterparts and sign agreements on joint ventures.

Kamau said the Kenya National Chamber of Commerce and Industry has been speaking to investors in China who are looking at investing in Kenya through contract farming of avocado to address the capacity challenge.

To further enhance investment and trade ties with China, she said plans are underway for the trade lobby to open two other offices in Guangzhou and Shanghai.

—Source: China Daily