Kenya – Pakistan Trade and Investment Conference, Karachi
Kenya Pakistan Trade & Investment Conference, 2-4th May 2018, Karachi
H.E Dr. Monica Juma, Cabinet Secretary for Foreign Affairs and International Trade, Republic of Kenya and H.E Mohammad Pervaiz Malik, Minister for Commerce and Textile, Islamic Republic of Pakistan co-chaired the conference and had bilateral meeting on 2nd May, 2018 at Karachi. Around 40 delegates from public and private sector of Kenya and H.E Joseph Bitok , High Commissioner of Kenya and diplomats, attended the Conference along with over 150 Pakistani businessmen and officials from Ministry of Commerce, Trade Development Authority of Pakistan, Board of Investment, Department of Plant Protection etc. The Conference has been organized under Look Africa Policy Initiative of Ministry of Commerce.
H.E Mohammad Pervaiz Malik, Minister for Commerce and Textile, Islamic Republic of Pakistan emphasized that Pakistan and Kenya have been enjoying cordial business and trade relations. The trade volume of two countries stood at US$ 748.37Million in 2016-17 however, both countries need to focus on the opportunities to diversify trade .Main commodities traded are rice and tea. The two commodities dominate the total trade with rest of the products having little share. Pakistan is the largest importer of Kenyan tea in the world. Similarly, Kenya is also biggest buyer of Pakistan rice.
H.E Dr. Monica Juma, Cabinet Secretary for Foreign Affairs and International Trade, Republic of Kenya elaborated that Kenya desires to have close economic partnership with Pakistan and she has delivered the message of President Uhuru Kenyatta to Pakistan Prime Minister Shahid Khaqan Abbasi in this regard. G2G interaction is very important and Kenya welcomes Look Africa Policy of Pakistan and Pakistan should get advantage of being among first movers to Africa being continent of the future.
Secretary TDAP explained efforts under Look Africa Policy Initiative and informed that TDAP will organize Single Country Exhibition in Kenya in August 2018 and Additional Secretary (Trade Diplomacy)of Pakistan proposed that Pakistan Institute of Fashion Design could collaborate and train Kenyan students and Faculty.
Both sides agreed on formation of Joint Trade and Investment Committee and decided that its first meeting will be hosted by Kenya in Nairobi in mid July 2018, the JTC will meet twice a year. Market access under Kenya Pakistan PTA will be discussed in JTC. The two sides will work to start direct flight between Nairobi and Karachi on weekly basis. Both countries will have Joint Ventures in Agriculture, textile, surgical and pharmaceutical sectors.
The Conference continued on 2-3rd May 2018 and Kenyan delegates visits to textile and leather factories and agro processing units were arranged by Trade Development Authority of Pakistan on 4th May 2018. The conference and visit was jointly organized by Governments of Pakistan and Kenya.