Kenya- Japan trade yields Sh18.7b in revenue, says KRA

Ambassador of Japan to Kenya, H.E Okaniwa Ken (Left) receives a plaque from KRA Commissioner General Mr. Humphrey Wattanga during the visit.[File]

Kenya Revenue Authority (KRA) has so far collected Sh18.7 billion from the Kenya- Japan trade this year.

The parastatal noted that Kenya exported goods worth Sh4.8 billion to Japan and imported goods valued at Sh46.1 billion in 2023, making Japan a key investor.

KRA Commissioner-General Humphrey Wattanga, asserting the need for investments and business partnerships with foreign nations pledged support for the country's partnership with Japan by creating a conducive environment for Japanese investors.

"Besides revenue collection, KRA is mandated to facilitate trade and implement policies aimed at creating a favourable environment for investors in the country. We will continue working with relevant Government agencies to attract Japanese investors in the country," Wattanga said.

Reiterating the KRA boss' remarks, Japan Ambassador to Kenya Okaniwa Ken applauded the government for establishing good tax policies saying, "It is one of the ways to create a conducive environment to do business."

There are at least 144 Japanese companies operating in Kenya and many other investors willing to invest in the country, according to the envoy.

The Ambassador also noted that Kenya through its partnership with Japan has occupied a privileged position in the Asian country's diplomatic relations.

Kenya is the leading recipient of Japanese Development Assistance in Sub-Saharan Africa.

To boost their partnership, the envoy promised to continue collaboration with the country so as to create a robust economy which will enable KRA enhance its revenue collection