Kenya eyes $1 billion bilateral trade potential with Pakistan

ISLAMABAD, March 14: Prof. Julius Kibet Bitkok, High Commissioner of Kenya said that current volume of bilateral trade between Kenya and Pakistan was US$ 600 million while it could be taken to US$ 1 billion by the aggressive efforts of businessmen of both countries. He said Pakistani rice was meeting 70% market needs of Kenya while Kenyan tea was meeting 70% needs of Pakistani market. However, he said both countries should focus on diversification of bilateral trade. He said Kenya was interested in many Pakistani products including pharmaceuticals, surgical instruments, farm machinery and sports goods. Similarly Kenya could export its leather products, flowers and many other goods to Pakistan.
He said this while addressing business community at Islamabad Chamber of Commerce & Industry. The Commissioner Counselor of Kenya was also present at the occasion.
The High Commissioner said that Kenya was a gateway for Pakistan to reach East and Central African market of 150 million people.
He said Commerce Minister of Kenya would visit Pakistan in August this year to take part in Joint Ministerial Commission negotiations and asked the business community of Pakistan to prepare a draft of preferential trade agreement which could be discussed during the JMC.
About tariffs hike on Pakistani rice in Kenya, he said the decision was taken on the pressure of Eastern African bloc, however, he said this issue could be negotiated during the JMC to arrive at a favorable tariff for Pakistani rice. He said ICCI should plan a trade mission for Kenya to explore potential areas of trade promotion and High Commission of Kenya would organize its meetings with relevant government officials and other stakeholders.-DNA