Browsing: Kenya- EU trade ties

• President Uhuru Kenyatta has hailed the strong bilateral ties between Kenya and Hungary but regretted the low volumes of trade and investment flow between Nairobi and Budapest
• Kenyatta said Kenya had intensified efforts to promote greater linkages and networks between the private sector and business communities in the two countries
• Kenya and Hungary signed four bilateral agreements for cooperation in the health, water, education and diplomacy sectors.

Kenya Hungary trade ties

President Uhuru Kenyatta has hailed the strong bilateral ties between Kenya and Hungary, saying economic cooperation, trade and investments mainly drive the relationship.

However, Kenyatta regretted the low volumes of trade and investment flow between Nairobi and Budapest over the last five decades despite substantial commercial potential.

“To address the low trade volumes, we have to intensify efforts to promote greater linkages and networks between the private sector and business communities in the two countries. We also encourage them …

Kenya is keen on strengthening trade and investment ties with Europe, President Uhuru Kenyatta has said.

According to the Kenyan embassy in Brussels, Kenya has enjoyed a longstanding cordial association and trade relations with the European Union, under the framework of the successive Lomé Conventions and the Cotonou Agreement.

The cooperation began in the 1960s, prior to the Lomé Convention, and has been in the areas of, inter alia: development finance, trade, political, industrial development, energy, socio-cultural, regional cooperation development, agriculture and environment, with the objective to increase export income, promote industrialisation, and promote economic growth of developing countries.

To achieve these objectives, the European Union (EU) provided Kenya and other ACP countries preferential market access for primary products, essentially agriculture and other agro-based products, together with funds and other forms of assistance towards trade and private sector development. The preferences have been non-reciprocal, and are in the …