In a noteworthy acknowledgment of Kenya’s global trade influence, Kenya’s Investments, Trade and Industry Minister Rebecca Miano has been invited to participate in the G7 Trade Ministers’ Summit slated for October 28th in Osaka, Japan.
This distinguished conclave brings together international ministers of trade to discuss the promotion of open trade and resilient supply chains.
Recognising Kenya’s pivotal role in the African economic landscape, Japan has extended this invitation to foster meaningful dialogue and collaboration on global trade-related matters.
The Outreach Forum, a key component of the G7 Trade Ministers’ Session, serves as a platform for exchanging ideas, fostering mutual understanding and exploring avenues for enhanced cooperation.
Adding to the significance of this diplomatic exchange, Minister Miano will also participate in the Japan-Kenya Business Round Table on October 27, 2023.
Featuring an audience of 100 Japanese businesspersons, this Round Table aims at elevating Kenya’s profile as an investment destination.
The event is expected to deepen mutual understanding of business activities in Kenya and to pave the way for future collaborations and new investments.
Minister Miano expressed gratitude for the invitation, noting its importance in building robust diplomatic and trade relations with key global players in favour of Kenya.
She reiterated Kenya’s commitment to creating an equitable trade landscape that benefits both nations, further strengthening their longstanding diplomatic ties.
This participation underscores Kenya’s growing importance on the global stage and acknowledges its efforts to enhance trade partnerships. Minister Miano is poised to articulate Kenya’s perspectives, contributing to the global discourse on fostering equitable and mutually beneficial trade relationships.
Kenya aims to scale up local content production, particularly in the automotive industry, where 34 parts are currently considered for local production.
This initiative holds immense potential for generating jobs, income and technology transfer. Kenya will encourage Japanese investors to establish operations in Kenya, leveraging the benefits of market access to the East African Community market, vast African Continent
through AfCFTA and the European Union Market through Kenya’s engagement with the EU.
Kenya’s Rebecca Miano and the Minister of Economy, Trade and Industry of Japan H. E. Mr. NISHIMURA Yasutoshi are expected to issue a joint communiqué on establishing Industrial Policy Dialogue (IPD) between Kenya and Japan at the end of the bilateral economic relations.
These initiatives promise to boost Kenya’s share of manufactured goods to GDP, create employment opportunities and increase government revenue through accrued taxes.
