Kenya and China have agreed on the removal of tariffs on agricultural products from Kenya to China. The removal of tariffs is decided in the ongoing talks, giving Kenyan farmers and exporters easy navigation into China’s market that is the second biggest in the world.
President William Ruto said the agreement will be supported by joint actions that will not only increase logistics but also processing capacities through Export Processing Zones (EPZs), thus deepening value addition and enhancing the ability of Kenyan products to compete in foreign markets.
The President was speaking during the ceremony to mark the symbolic first cut for the China–Kenya International Commerce Centre, a Sh5 billion mixed-use project at the Jamhuri Showground in Nairobi on Wednesday.
The landmark, with more than 68,000 square metres of space, would be made up of an expo and trade centre of international standards, a five-star hotel, and other such buildings. It is predicted that 3,000 Kenyans will become directly employed as a result of the project, once it is complete.
“This moment is our commercial turnaround point for our ASK facilities, as these facilities will change from being idle or under-utilized government assets to engines of growth,” President Ruto remarked.
The President referred to the deal as a sign of support for Kenya’s economic prospects, adding that the country is a place that is both stable and predictable and from where you can get good rewards as an entrepreneur and fair returns if you are an investor.
The China–Kenya International Commerce Centre will become a centre of trade and a place from where investors will be able to make their deals, hence, it will be instrumental in deepening economic ties between the two countries and also in realising Kenya’s ambition to position itself as a regional gateway for commerce.
