Kenya signs trade pact with Indonesia

Cabinet Secretary Moses Kuria and Indonesian Minister for the Coordinating Ministry for Maritime Affairs and Investment H.E Luhut Binsar Pandjaitan during bilateral talks. [Standard]

Kenya and Indonesia have committed to strengthening bilateral relations by improving trade and investment cooperation, promoting sustainable development, and fostering economic growth.

Cabinet Secretary for Investments, Trade and Industry Moses Kuria concluded a three-day visit to Indonesia with the signing of a "deal book" symbolising the dedication of both nations to fostering partnerships.

Indonesian Minister for the Coordinating Ministry for Maritime Affairs and Investment Luhut Binsar Pandjaitan witnessed the signing of the deal.

"The companies listed in this deal book will visit Kenya in June 2023 to meet their Kenyan counterparts. They will also revisit Kenya in July when Indonesian President Joko Widodo is scheduled to visit," Mr Kuria said in a statement following the signing of the deal.

"My team and I commit to having very close ties to maintaining this practical approach we have started."

During the meeting, the leaders emphasised the importance of using locally available raw materials to optimise production for export and promote value addition along the value chains.

In addition, the ministers highlighted the need to maintain low inflation rates and implement sound monetary policies and fiscal measures for stable economic growth.

They identified the textile and apparel sector as having growth potential and expressed commitment to promoting investment and technological advancements in this area.