Speaking yesterday at the Intercontinental Hotel, Nairobi, when she officially opened the 6th Session of the Kenya-Egypt Joint Commission for Cooperation (JCC), the Cabinet Secretary also underlined the need to thrash out issues surrounding the pricing of Kenyan tea.
The CS stressed that sugar and tea are areas of immediate interest in efforts towards the expansion of bilateral trade between Kenya and Egypt. ?The challenges surrounding the importation of sugar from Egypt and the issue of pricing of Kenyan tea need to be addressed in order to tap the existing prospects for trade given the ample trading opportunities and market potential in both countries,? explained the CS.
The three-day 6th Session, that brought together sixty technical experts drawn from Government Ministries, Departments, Agencies, Authorities and Embassies of both Kenya and Egypt, closed today with a strong call to strengthen trade and investments exchanges between Kenya and Egypt.
Towards this end, Kenya and Egypt negotiated and concluded, among others, several agreements on trade and investment were signed.
In a join Communiqu? issued at the conclusion of the JCC, the two sides also agreed to cooperate at the regional and international arena on issues of common interest including fighting terrorism, UN reforms, as well as peace and security in the Great Lakes Region.
Yesterday, on the sidelines of the JCC, Kenya and Egypt held a join Business Forum that was attended by over 300 business persons from both Kenya and Egypt. Addressing the forum, Mohamed encouraged Egyptian investors to venture into the Kenyan market and take advantage of existing investment opportunities.
?I encourage Egyptian investors to venture into our country and take advantage of our vibrant economy,? said the CS.
The CS noted that the value of trade between Kenya and Egypt stood at 501 million US $ in 2013, saying this was far below optimal potential. ?There is need to explore ways and means of broadening and diversifying trade and investments between our two countries,? stressed Mohamed.
Sameh Shoukry, Egypt Foreign Minister said the JCC and the MOUs signed today set goals for future commitment. The Joint Business Council to be established will help promote ties between the two countries and will meet on quarterly basis to review progress on the partnership.