NAIROBI, Sept 12 (NNN-KBC) — Kenya and the United Kingdom are targeting to enhance bilateral trade with the inaugural UK-Kenya Investment Forum which is slated for next month.
The three-day forum which will bring together government officials from the two countries including private sector stakeholders will see Kenya and UK explore trade and investment opportunities to increase volume of trade.
According to the Kenya Business Alliance, there are currently 37,000 business professionals in the UK with links to Kenya as well as a strong and vibrant diaspora community of at least 500,000.
Statistics from the UK Department of Business and Trade indicates that total value of goods and services between Kenya and the UK stood at Ksh 237 billon (£1.4b) in a year to March 2024.
Of the total trade volume, UK exports to Kenya totaled Ksh 110.5 billion which is a 3.3pc decline when compared to the same period last year.
Kenya on the other hand which is UK’s 78th largest trade partners saw its exports to the European nation decline by 2.3pc to Ksh 128.4 billion.
During the forum which will cover thematic areas such as foreign policy on trade and investment in Kenya, entrepreneurship and business will explore areas of investment opportunities for investors.
Key areas of investment being targeted include health, real estate, manufacturing, education, technology, import and export, tourism and finance.
The inaugural UK-Kenya Investment Forum is slated for Oct 1-3. — NNN-KBC