Chinese, Kenyan chambers of commerce ink deal to foster bilateral trade

NAIROBI, Sept. 4 (Xinhua) -- China Chamber of Commerce for Import and Export of Machinery and Electronic Products on Thursday signed a memorandum of understanding (MoU) with Kenya National Chamber of Commerce and Industry (KNCCI) to foster bilateral trade and mutual exchanges.

Senior government officials, diplomats, industry executives, and investors attended the signing ceremony, which took place on the sidelines of the eighth edition of the Kenya International Industrial Expo held in Nairobi, the East African country's capital.

Pius Rotich, general manager of investment promotion and business development services at Kenya Investment Authority, said the Kenyan government is leveraging strategic partnerships with Chinese enterprises to modernize infrastructure, accelerate industrial growth, and promote a green transition.

According to Rotich, a stable macroeconomic environment will ensure that capital and technology from China are channeled to sectors with high potential for growth, including e-mobility, agro-processing, tourism, and affordable housing.

He added that Nairobi is banking on fiscal incentives and political goodwill to attract Chinese investments in the development of smart cities, creative economy, mining, and cross-border e-commerce platforms.

Shi Yonghong, vice president of China Chamber of Commerce for Import and Export of Machinery and Electronic Products, noted that Kenya serves as a gateway for the eastern African region and a launching pad for Chinese enterprises eager to expand their footprint on the continent.

Through enhanced cooperation with their Kenyan counterparts, Chinese firms will help unlock investment, facilitate technology transfer, and foster skills development to drive growth and benefit local communities, Shi said.