Written By Vanessa Kariuki |
Kenya’s minister of foreign affairs, Dr. Alfred Mutua, met with the Hon. Mary NG, minister of small businesses, export promotion, and international commerce, in Ottawa, Canada, to discuss ways to boost bilateral trade and investment.
They decided to move forward with talks on the Foreign Investment Promotion and Protection Agreement (FIPPA) between Kenya and Canada in order to open the door for a fresh influx of Foreign Direct Investment (FDI) and trade for Kenya. They pledged to sign the framework before the end of 2023.
CS Mutua welcomed the Canadian government’s assistance for The Hustler Fund, H.E. President Williams Ruto’s premier bottom-up Kenya Kwanza economic model that offers finance to small and medium-sized businesses.
Within the framework of the Canada Africa Economic Cooperation Strategy, Kenya will collaborate with Canada.
He asked Canadian companies to use Kenya as a strategic entryway to Africa to invest in Special Economic Zones and Konza Technopolis and gain access to the continent’s market of more than 1.3 Billion people, especially in the agricultural sector.
As part of the G7, he also urged Canada to support a friendly international financial system that would allow poor nations to obtain loans at reasonable rates. In the effort to combat climate change, they vowed to cooperate.
