Merchants’ Chamber of Commerce & Industry organised a Special Session with H.E. Mr. Amd. Peter Munyiri, High Commissioner of the Republic of Kenya in India on “Exploring Opportunities: India-Kenya Bilateral Trade Focusing on West Bengal” here today at the Chamber. Mr. Pranay Poddar, Honorary Consul, The Consulate of Kenya in Kolkata also addressed the Session.
While welcoming the guests, Mr. Anupam Shah, Past President, MCCI in his address mentioned that India is one of the largest trading partners of Kenya and India-Kenya trade relations encompass various sectors of the economy. India is the second largest investor in Kenya and over 60 major Indian companies have invested in various sectors.
“India’s experience in digital infrastructure, unified payment interface (UPI), and health solutions can be areas of cooperation between the two countries. Tourism and education can play major roles in further strengthening the bilateral relationship between the two countries – said Mr. Shah.
H.E. Mr. Peter Munyiri, High Commissioner, Republic of Kenya in his address mentioned that Kenya is the 4th largest economy in sub-Saharan African. Being a stable, growing economy with young, trainable and productive workforce, Kenya is keen to work closely with Indian companies. He further informed that Kenya has US$ 4.1 bn untapped export potential.
While speaking on Kenya’s exports, he mentioned that Kenya is the producer of best known quality coffee and tea where Indian companies can venture into. Kenya also has large production of Avocado. “Kenya is keen to export avocado to the world. Due to some trade related protocol, Kenya is still facing some challenges in this area”- said Mr. Munyiri.
Kenya’s total export is now at USD 7.05 billion. Ambassador said that now the total market value of Kenya is now USD 40 trillion, where India has contributed only 14.21%.
While speaking on investment, His Excellency said that Kenya has huge investment opportunities in Renewable energy, Chemicals, Fuel and Logistics.
Healthcare is one of the areas special medical-tourism where Kenya-India business can cooperate. Kenya is looking for investment in IT and infrastructure sectors. In infrastructure it is mainly roads and airports.
He invited Indian companies to invest in the Kenya-Tanzania Natural Gas Pipeline. The 600km natural gas pipeline will facilitate gas importation from Tanzania’s Mtwara plant to Mombasa. Kenya signed an MoU with United Republic of Tanzania in 2021 to facilitate commencement of construction of the pipeline.
The session ended with a hearty Vote of thanks proposed by Shri Srikant Jain, Co-Chairman, Council on Foreign Trade, MCCI.