Kenya and Ireland to boost trade, investment

(L) CS Ministry of Trade and Industry, Lee Kinyanjui and Christopher O'Sullivan, Minister of State at the Department of Housing, Local Government and Heritage. [James Wanzala, Standard]

Kenya and Ireland have started an engagement aimed at increasing trade and investment in Kenya. The move comes despite the trade balance between the two countries being in favour of Ireland.

The engagement started with a breakfast meeting last week between Trade and Industry Cabinet Secretary Lee Kinyanjui and visiting Ireland Minister of State at the Department of Housing, Local Government and Heritage with special responsibility for Nature, Heritage and Biodiversity Christopher O’Sullivan, in Nairobi.

Business Ireland Kenya is a Nairobi-based member association founded in 2014 to support members explore trade opportunities between the two countries.

According to O’Sullivan, who was in Kenya for the St Patrick’s Day Celebrations, Ireland’s strategy for Africa to 2025 has guided the country’s diplomatic, trade and development engagement with sub-Saharan Africa since 2020.

“As it comes to its conclusion, we are now developing a successor strategy, in which trade, investment and economic partnership will be of central importance,” said O’Sulivan during the event organised by Business Ireland Kenya and the Embassy of Ireland in Kenya.

Trading environment

The minister, who first visited Tanzania, said this rapidly changing global trading environment prompted the government to review its approach to trade promotion in 2025.

The engagement, apart from increasing trade and investment of Irish businesses in Kenya, he said, will include partnership in areas of nature and biodiversity, wildlife, tourism and agriculture. The minister said Ireland’s businesses will be seeking to increase their presence not only in Kenya but also in the entire East African region.

CS Kinyanjui welcomed the Irish businesses in the country, saying the country has a conducive environment, good security, a strong exchange rate against the dollar, internet connectivity and educated manpower among the youth and Jomo Kenyatta International Airport for travel and logistics.

He said Kenya will be looking forward to boosting its exports to Ireland from the current $19 million (Sh2.47 billion). “To address the trade imbalance, we must foster stronger linkages between the private sector and business communities in both countries,” he said.