Egypt, Kenya begin implementing energy, trade deals

The two sides will expand trade and investment, collaborate in renewable energy and promote industrial development under the framework. The anticipated investments would cover manufacturing, construction and logistics.

Egypt and Kenya have began implementing a strategic and comprehensive partnership to deepen economic, energy and political ties.
Both sides will expand trade and investment, collaborate in renewable energy and promote industrial development.
Investments would cover manufacturing, construction and logistics.
Egypt is also keen to channel part of its $14-billion African investment portfolio to Kenya.

The decision followed high-level consultations between Kenya’s prime cabinet secretary Musalia Mudavadi and Egyptian Foreign Minister Badr Abdelatty.

The agreements were reached earlier by President William Ruto and his Egyptian counterpart Abdel Fattah el-Sisi.

To close the existing trade gap, both sides are fast-tracking the Kenya-Egypt Joint Business Council, focusing on streamlining customs procedures, addressing non-tariff barriers and expanding private sector engagement across priority industries, Kenyan Ministry of Foreign Affairs posted on Facebook.

Egypt has also indicated its readiness to channel part of its estimated $14-billion African investment portfolio to Kenya.

In addition, the partnership will see cooperation on Nile Basin development and infrastructure projects.

Fibre2Fashion News Desk (DS)