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CS Adan says lack of information blocks exporters from accessing alternative markets

NEWS
By Patrick Alushula | October 27th 2017
By Patrick Alushula | October 27th 2017
NEWS
Industry, Trade and Co-operatives Cabinet Secretary Adan Mohamed (PHOTO:FILE)

NAIROBI, KENYA: The Cabinet secretary for trade is rooting for increased export destinations for Kenyan products to reduce reliance on traditional markets.

According to Industry, Trade and Co-operatives Cabinet Secretary Adan Mohamed, there is a lot of untapped export potential due to lack of access to information about alternative markets.

“The concentration of trade in a few countries poses potential exposure so that if we have an issue with one of the countries, it hurts our export prospects,” said Mr Mohamed at the recent unveiling of the National Trade Negotiation Council (NTNC) and Kenya’s e-trade portal in Nairobi.

Kenya imports are three times higher than its exports, leading to a huge trade deficit. The country also has few export destinations, with over 70 per cent of exports going to only 12 countries.

Budget limitations

Kenya’s share of global exports currently stands at 0.03 per cent, with the ministry’s data showing that the product base is only five broad categories, accounting for 60 per cent of exports.

The CS said the launch of the NTNC and Kenya’s e-trade portal would be instrumental in growing the capacity of exporters to conquer new markets.

The council replaces the 20-year-old Permanent Inter-ministerial Committee (PIMC) and is expected to go beyond the mandate of the National Trade Committee on World Trade Organisation in striking favourable trade deals for Kenya. PIMC has not been effective due to lack of legal framework and budget.

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