Kenya, Tanzania trade ministers in Kisumu to tackle barriers
Kenya’s Trade Cabinet Secretary Rebecca Miano will today host her Tanzania counterpart in Kisumu, as both countries seek to address enduring trade barriers and explore untapped market opportunities.
Although the current bilateral trade between the two East African powerhouses stand at Sh90 billion, the figures could be significantly be higher were it not for the historical range of non-tariff barriers including restrictive regulations, licensing requirements, quotas, embargoes, foreign exchange restrictions, and import deposits.
“We are extremely grateful that for the next few days we will be hosting our Tanzania counterparts in the trade sector. The meeting will seek to strengthen our ties and friendship as neighbours,” Miano said ahead of her meeting with the Tanzanian counterpart Ashatu Kijaji in Kisumu County this morning.
Miano highlighted that the discussions will conclude with the signing of a communique. Additionally, a tour of Kisumu is scheduled today, offering an opportunity for direct dialogue with local traders to understand their challenges and gather feedback for enhancements.
Enhancing benefits
Kijaji’s visit comes barely two years after President William Ruto’s pledge in Tanzania, to double bilateral trade from the current Sh90 billion, a goal aimed at enhancing benefits for traders and investors alike. In May 2021, the visit of Tanzanian President Samia Suluhu Hassan to Nairobi marked a significant turning point in Kenya-Tanzania trade relations.
The two nations successfully negotiated the removal of 23 trade barriers, paving the way for enhanced economic co-operation. This breakthrough contributed to a substantial increase in bilateral trade, surpassing the $100 million (Sh13.2 billion) threshold for the first time.