Let’s do joint ventures, Kenyan High Commissioner urges the businessmenJune 9, 2015
Lahore: High Commissioner of Kenya Prof. Julius K. Bitok has said that a new strategy has been evolved to double Pakistan-Kenya two-way business within one year.
He was talking to the LCCI President Ijaz A. Mumtaz here at the Lahore Chamber of Commerce & Industry on Wednesday. LCCI Vice President Syed Mahmood Ghaznavi also spoke on the occasion.
High Commissioner said that legal and financial systems of Kenya are very strong and reliable. He urged the Pakistani businessmen to enter into joint ventures with their Kenyan counterparts in various fields.
The High Commissioner said that both Kenya and Pakistan need to concentrate on available opportunities as the Kenyan government had made special arrangements with the regional countries for the free movement of goods and once any businessman had joint venture with his Kenyan counterpart he would have access to other regional countries as well.
He also called for exchange of trade delegation between the two countries on reciprocal basis.
LCCI President Ijaz A. Mumtaz in his address said that Kenya is an import member state of Africa. Since Kenya is a developing country, so strengthening of mutual relations with emerging countries like Pakistan can be beneficial for the both countries.
He informed the Kenyan diplomat that the Lahore Chamber has been highlighting the untapped potential of trade available in whole Africa.
He said that Kenya, geographically located on the Eastern side of Africa and having coastline on the Indian Ocean can become a trading hub for Pakistani products to be transported to its bordering countries.
Ijaz A. Mumtaz said that Pakistan and Kenya are steady trading partners. Among the top export and import destinations of Pakistan, Kenya comes at 17th and 29th places respectively. However, Pakistan has remained one of the top ten trading partners of Kenya. It is good to see that the bilateral trade is gradually growing with every passing year.
He said that from 2012 to 2014, Pakistan exports have increased from US$ 210 million to US$ 333 million. Similarly, the imports from Kenya swelled from US$ 235 million to US$ 268 million in last three years.
LCCI President said that the interesting factor in bilateral trade is that out of total exports from Pakistan to Kenya almost 80% consist of Rice. Likewise, coffee and tea comprise 87% in the total imports from Kenya.
He said that we need to diversify the variety of products for increasing the volume of two-way trade. Pakistan can export wide range of textiles items, pharmaceuticals products, leather goods, articles of plastic, chemicals, technical and medical apparatus etc. to Kenya.
Ijaz A. Mumtaz said that Pakistan is already catering the academic needs of Kenyan students for their technical and professional education. He said that both countries should also collaborate for knowledge sharing in the fields of education, agriculture and tourism etc.
He said that Pakistan regularly hosts Kenyan trainees in the field of defence. Moreover, Kenya can rely on Pakistan with regard to obtaining all kind of support to fortify their defence.
LCCI President said that frequent exchange of sector-specific delegations can make the representatives of Kenyan private sector explore the new opportunities of trade with Pakistan.
He also stressed the need to increase the frequency of interaction between LCCI and Kenyan High Commission to bring both the countries close to each other.
LCCI Vice President Syed Mahmood Ghaznavi asked questions about law and order situation and banking system in Kenya.
LCCI Executive Committee Members Khawaja Khawar Rasheed, Zafar Mehmood, Maqsood Butt and Jamil A. Naz were also present on the occasion.