NAIROBI, KENYA, AUGUST 20 ―The Kenya Private Sector Alliance (KEPSA) is counting on an upcoming investment forum in Helsinki to deepen trade ties between Kenya and Finland.
Kepsa will be leading a Kenyan trade party to Finland where it expects to pitch for business at the forum, scheduled for October.
The investment forum is set to be interactive, giving an opportunity for participants to contribute to the discussions as they forge for trade relations.
During the forum, Kenya companies will learn on modules that will help them benefit from Finnpartnerships.
Finnpartnership is a Finnish business partnership programme that provides advisory services and financial support for business activities of Finnish companies in developing countries.
Finnfund is responsible for the management and implementation of the programme on behalf of the Ministry for Foreign Affairs of Finland.
It supports feasible and commercially viable partnerships between companies in Finland and in developing countries.
“Kenyan companies will be guided on how to enter Finnpartnership’s free of charge matchmaking program, and review proposals of Finnish companies that are looking for partners from Kenya at the moment,” Kepsa said in a communiqué, urging its members and the Kenya private sector to embrace the forum.
The matchmaking program takes in all types of business proposals which include importing, exporting, Joint Ventures and investments.
“At the end of the seminar there will be a chance to meet Finnpartnership and Finnish companies and engagement for direct matchmaking opportunities,” the Kepsa leadership affirmed.
The Kenya Finland Investment Forum is scheduled to take place between October 11 and 13.
Participating sectors will include Information Communication and Technology, health and energy.
Kenya and Finland have enjoyed a good diplomatic relation dating back to June 1965, with Finland recognizing Kenya as key in maintaining regional stability in addition to its diversified economy.
Finland has been pushing for trade in Kenya through “Team Finland” network which promotes Finland and its interests abroad.
This is the internationalisation of Finnish enterprises, investments in Finland, and the country brand.
The core of the network consists of the publicly funded organizations such as the ministries, Finland’s network of diplomatic missions, Finpro, Tekes, national culture and science institutes, Finnvera, Finnfund, and the regional internationalisation services, built upon the Centres for Economic Development, Transport and the Environment (ELY Centres).
The Team Finland network helps enterprises become more international, grow, and succeed in the global market.
In 2014, total development assistance from Finland to Kenya stood at Euro €13.9 million (US$15.9 million). This is about Ksh1.6 billion.
Annual trade between the two countries is in excess of US$45 million where Kenya exports mainly horticultural products, tea and coffee, while importing information communication technology and power plant equipment.
The countries signed a double taxation pact in 2014 to promote trade and investment.