New Kenya-Egypt Business Forum promotes bilateral trade and investment
At the Kenya-Egypt Business Forum, sponsored by Qalaa Holdings (owner of ASEC Cement), it was announced that the two countries had formed a permanent bilateral council to promote trade and investment. The Forum saw companies from Egypt accompany Egyptian Foreign Minister Sameh Shoukry and Minister of Trade and Industry Mounir Abdelnour to Nairobi for talks with their Kenyan counterparts, led by Kenya’s Cabinet Secretary for Foreign Affairs Amina Mohamed. The new council will bring together ten businesses from each country to promote trade opportunities, which each group will present to their government on a quarterly basis.
Foreign Minister Shoukry noted: “Kenya and Egypt share many things in common. We have the potential for a win-win collaboration.”
Moses Ikiara, CEO of the Kenya Investment Authority said: “Kenya is a country of unlimited possibilities, and if there ever was a time to invest in this market, it is now. Every sector, from financial services to ICT, is rife with opportunities and the returns are very high. “