Boost as Kenya and Tanzania advance bilateral trade relations
Business
By
Lee Mukunga
| Mar 24, 2024
Leaders from Kenya and Tanzania met in Kisumu on Friday to address and streamline the path towards enhanced trade and cooperation.
Kenya's Cabinet Secretary, Ministry of Investments, Trade and Industry Rebecca Miano and his Tanzanian counterpart Dr Ashatu Kijaji led the meeting marking a pivotal moment in the history of Kenya-Tanzania relations.
In her remarks, CSeMiano emphasised the enduring partnership between the two countries, acknowledging Tanzania's role as a "strategic and key trading and investment partner" for Kenya.
''This relationship, fostered by initiatives such as the establishment of a Kenyan Consulate in Arusha and the adoption of the EAC Common Market and Customs Union Protocols, has seen significant growth in trade volumes, with recent figures showcasing a remarkable upturn.''
The discussions echoed the directives of Presidents William Ruto and Samia Suluhu Hassan, focused on overcoming non-tariff barriers and fostering an environment conducive to mutual economic prosperity.
READ MORE
KRA moves to enforce 15 per cent minimum tax on multinational companies
When voters speak, politicians must listen: Lessons for Kenya in US midterm elections
State approves Sh96.95 M compensation for 157 protest victims
Trials intersex children undergo in quest for identity, acceptance
Mr President, you can't concede today and rewrite history tomorrow
Why Opposition should just settle on Sifuna as flag bearer
The missing billions: Unraveling the mystery of Kenya's 2014 Eurobond scandal
Highlighting the progress made, Miano noted that out of 68 trade challenges identified, 56 have been successfully resolved, underscoring a collective commitment to seamless trade.
At the heart of this bilateral engagement is the recognition of the immense potential for economic growth and community upliftment. Both nations reiterated their resolve to address any trade-related issues with a forward-looking approach, aiming to surpass the USD 1 billion annual trade mark.
In a significant nod to the collaborative spirit of the meeting, Hon. Stephen Byabato, Deputy Minister for Foreign Affairs and East African Cooperation in Tanzania, was lauded for his instrumental role in facilitating dialogue and fostering a spirit of unity and cooperation between the two nations.
His efforts, embodying the essence of partnership and shared vision, were highlighted as a cornerstone of the ongoing success in bilateral relations.
As both countries look to the future, the Kisumu meeting stands as a testament to their shared commitment to a prosperous and interconnected East Africa.
Kenya, with open arms and a safe environment for business, invites continued collaboration and innovation in trade practices, setting a precedent for regional economic integration and growth.