The Kenya National Chamber of Commerce and Industry (KNCCI) has established a branch in Changsha, China, with the goal of enhancing trade and investment between Kenya and China.
In a meeting held in Nairobi on Wednesday, KNCCI CEO Patrick Nyangweso explained that this new branch will promote cooperation, facilitate business partnerships, and showcase Kenyan products and services in the active Chinese market.
Dr. Erick Rutto, the President of the Chamber, also expressed his belief that this expansion into China is a strategic move that will foster cooperation between Kenya and one of the world’s largest economies.
During the same event, Zhang Yijun, Minister Counsellor at China’s Embassy in Kenya, praised KNCCI’s initiative, believing it will bolster trade between the two nations.
Both parties involved have identified the new branch as a valuable resource for identifying business opportunities, especially in the trade of Kenyan meat and related products.
Furthermore, KNCCI intends to open more branches in various countries to promote Kenyan business, as stated by the President.
Caroline Gathoni, CEO of Laskia Ventures, emphasized the opportunity to market Kenyan products, especially in the leather and sisal industries.
KNCCI expressed its gratitude to the Chinese government for its role in facilitating collaboration and strengthening bilateral relations.
As per a report by the Observatory of Economic Complexity in August 2023, Kenya imported goods valued at Ksh93 billion from China, while exports amounted to Ksh2.9 billion. Kenya’s main exports to China include tea, coffee, flowers, and fruits, while the country mainly imports machinery, electronics, and textiles.
China, which is currently Africa’s primary trading partner, enjoys significant trade ties with Kenya. Data from the Mercator Institute for China Studies (MERICS) shows that from 2015 to 2019, the total trade value between the two countries was Ksh2.7 trillion (USD 18.20 billion).
