Over 90 Kenyan Firms to Attend the China International Import Expo
The Kenya Export Promotion Council (EPC) has revealed that about 90 Kenyan firms will be participating in the China International Import that will be held on November 10, 2018. The firms will be showcasing majorly Kenyan agricultural products for six days during the event that will be held at the National Exhibition and Convention Center in Shanghai.
“We are looking forward to showcasing agriculture-related products such as tea, flowers, coffee, and nuts. These are areas where we have a competitive advantage,” said EPC chief executive officer Peter Biwott.
Kenya is looking to capitalize on the expo to reduce the trade deficit between China and herself. The Asian country, which is the leading source of Kenyan imports, brought into the country goods worth Sh337.4 billion in 2016. Kenya, however, exported cargo worth Sh10 billion to China in the same year, reflecting a trade deficit of Sh317.4 billion.
The chunk of these imports was taken by infrastructural projects such as the expansion of roads and the building of the Standard Gauge Railway (SGR).
Economic indicators have projected that imports from China could hit the Sh420 billion mark following the latest market trends. Reports from the Kenya National Bureau of Statistics (KNBS) show that Kenya imported cargo from China worth Sh175 billion between January and May 2017, this averaged Sh35 billion a month.
However, Kenya will not only focus on reducing the deficit in trading with China but will also look to connect with the world’s leading importers from other countries across the globe.
The fair is, according to Chinese authorities, expected to attract over 2,800 companies from all the G20 member states and other countries which are involved in the Belt and Road Initiative.
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