KENYA TO EXPLOIT TIES WITH IRAN TO EXPAND TRADE

Kenya will exploit the strong ties it enjoys with Iran to expand trade

Kenya will exploit the strong ties it enjoys with Iran to expand trade.

President William Ruto said trade volumes between the two countries are still low but with potential to grow.

He explained that Kenya and Iran will strike a formula that will facilitate higher exports of tea, coffee and meat.

“This will bring about the much-desired trade balance that is in favour of Iran.”

He made the remarks on Wednesday at State House, Nairobi, after holding talks with President of Iran Ebrahim Raisi.

President Ruto observed that Kenya will also use the West Asian country’s wealth in technology and innovation for its development.

He pointed out that the setting up of the Iran House of Innovation and Technology in Nairobi will offer the right platform for Iranian and Kenyan businesses.

“This is an innovative way of enabling enterprises to access Iranian technologies, skills and information.”

He explained that Kenya and Iran are strategically located to be each other’s key points of entry into their respective regions.

“We will seek to capitalise on this unique advantage for our prosperity.”

As a consequence of regular interactions, President Ruto argued that Kenya and Iran have signed more than 22 MoUs and agreements.

The instruments have been key to the cooperation in development, education, scholarships, infrastructure, health, water, fisheries and agriculture.
 
During their meeting, Dr Ruto and Dr Raisi witnessed the signing of new MoUs and agreements in the areas of agriculture, livestock, culture and heritage, information, ICT, fisheries, housing, urban and metropolitan development.
 
President Ruto lauded Iran’s support in health, terming it a critical step towards the realisation of Kenya’s Universal Health Coverage.

President Raisi lauded Kenya’s commitment to creating a friendly environment for foreign businesses.

He said more Iranian firms will establish operations in the country, paving their way to accessing EAC, COMESA and AfCFTA markets of more than 1.4 billion people.

“The Kenya-Iran relations can always be strengthened for our benefit,” he said during a media briefing.

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