Kenya and Sweden have taken a step forward by strengthening their bilateral trade and economic relations following the signing of Memorandum of Understanding (MoU) on Capacity Development between Kenya’s State Department of Trade and Sweden’s National Board of Trade.
The agreement was signed by the Acting Secretary for Trade, Michael Mandu, on the sidelines of the Second Session of the Kenya-Sweden Joint Trade Committee (JTC).
The MoU establishes a framework for enhanced cooperation in trade policy, trade promotion and capacity development, with a particular focus on strengthening institutional capabilities, improving market access, enhancing economic analysis and deepening bilateral trade relations.
The development underscores the commitment of both countries to strengthen their existing partnership through knowledge exchange, technical cooperation, institutional development and the promotion of mutually beneficial trade opportunities.
Through the cooperation framework, Kenya stands to benefit from Sweden’s experience and expertise in international trade policy, economic analysis, trade regulation and market development.
The partnership is expected to provide opportunities for knowledge sharing, technical assistance, professional development and the strengthening of institutional systems responsible for managing and promoting international trade.
The partnership could also contribute to strengthening the capacity of Kenyan businesses to identify, access and compete in new international markets.