Investments, Trade, and Industry Cabinet Secretary Moses Kuria who is in the United States to discuss the future of investment has said it is time for business relations between Kenya and the U.S. to flourish.
Kuria's trip aims at promoting trade and bilateral ties between Kenya and the U.S.
In a US Chamber of Commerce meeting on Monday, April 24, the CS agreed with other members on a new acronym for the next phase of engagement between Kenya and other African countries.
“We agreed to track the issues of concern with the US-Africa Center and the Ministry of Investments Trade and Industry through the Kenya Investment Authority. The companies in attendance represented diverse sectors, including financial services, technology, pharmaceuticals, and trade,” Kuria said in Washington DC.
He listened to representatives from various US-based companies, who shared their perspectives on investment bottlenecks and barriers in trade.
The meeting gave incentives to foreign companies to set up businesses in Kenya by creating a good working environment to catapult domestic investments.
“I am on a program to create and expand existing special economic zones to set up the export processing zone by expanding and creating new partnerships in trade agreements across the globe,” Kuria added.
He also revealed that Kenya is moving towards a third round of negotiation on strategic investment partnership by July.
“On the next phase of this engagement, we are calling from pity to practice. We pitched on policy changes but now over the next 8 weeks we are in the wind of implementation on digital tax, CT ownership, and other policy arrangements,” he said.