Egypt to embark on trade mission to Kenya in October sponsored by BM

Newspaper Title: https://dailynewsegypt.com/

Newspaper Number:

Wednesday - 31 August 2022

Under the auspices of Banque Misr (BM) as a financing agency, Egypt’s Chemical and Fertilisers Export Council — in cooperation with the Export Council for Building Materials and Egyptian Commercial Service Office in Nairobi — will embark on a trade mission to Kenya from 4 to 6 October.

Khaled Abu Al-Makarem — Chairperson of the Chemical and Fertilisers Export Council — said that about 30 companies are scheduled to participate in the mission, pointing out that the mission will include an introductory meeting for participating companies on the needs of the Kenyan market and laws related to investment and trade in Kenya.

This is in addition to arranging field visits for companies to markets in Kenya to determine the prices of products and market needs.

Furthermore, it will include bilateral meetings between businessmen and companies on both sides and field visits by Egyptian companies to their Kenyan counterparts and to the industrial areas in which these companies are located.

Abu Al-Makarem previously stated that the council aims to achieve a growth rate of about 15% in the sector’s exports to Kenya during the current year.

He elaborated that “the Kenyan market is one of the most prominent African markets that the council focuses on in terms of enhancing the presence of the sector’s products on the continent and achieving the goal of increasing its exports by 20%.”

Additionally, Kenya is a landlocked country that can serve as a major centre for Egyptian exports on the continent.

Egypt’s chemical exports witnessed an increase in the first half (1H) of this year, rising to $4.33bn, compared to 1H 2021’s $3.21bn — an increase of 35%.