Bid to boost ties with Kenya
The government on Monday asked industry to explore opportunities in Kenya to boost trade with the east African nation, which could become India's gateway to the whole continent.
- Published 28.08.18
New Delhi: The government on Monday asked industry to explore opportunities in Kenya to boost trade with the east African nation, which could become India's gateway to the whole continent.
"Have asked Indian businesses to carry out a market study to identify priority areas for expanding cooperation with Kenya as India eyes fresh avenues to boost bilateral trade with the African nation," commerce minister Suresh Prabhu said.
The eighth session of the India-Kenya Joint Trade Committee was held in Nairobi, the capital of Kenya, last week.
"Addressing the India-Kenya Joint Business Council in the presence of industry leaders & business representatives from both countries... We invited Kenyan businesses to invest in India and urged Indian businesses to research key priorities and design products specific to Kenyan needs," an official statement quoting Prabhu said on Monday.
India explored opportunities to increase the exports of petroleum products, cars and motorcycles, and mobile phones to Kenya during the meeting.
India and China have been strengthening their engagements with African countries as this region provides a big market for their products.
Oil is another factor for having close relations with the region.
This continent has huge energy reserves, with Kenya having one of the largest crude oil refineries, while South Africa comprises 3 per cent of African coal reserves.
Mozambique has one of the world's richest off-shore natural gas reserves and massive deposits of coal. China and India are competing with each other to secure African oil and other natural resources.