Kenya-Pakistan cooperation to strengthen commodity exchange

December 23, 2024 (MLN): Pakistan and Kenya discussed leveraging Pakistan's strategic location as a gateway between Central Asia and the East African Community (EAC), enhancing economic ties focusing on agriculture, pharmaceuticals, and commodities.

The aforementioned discussion held today during the meeting of Federal Minister for Commerce, Jam Kamal Khan, and the Kenyan High Commissioner to explore new horizons in trade and regional cooperation.

The minister Highlighted Pakistan’s strategic location, he underscored its potential role as a bridge for trade between CARs and East Africa, paving the way for mutually beneficial trilateral relations, as per the press release issued today.

Jam Kamal Khan conveyed greetings for the Kenyan President and reiterated Pakistan’s commitment to deepening ties with Kenya and the broader East African Community (EAC).

The minister emphasized that Pakistan, as one of the largest importers of Kenyan tea, sees tremendous scope to diversify trade into other unique African products such as coffee, pineapples, and more.

Similarly, Kenya was invited to explore opportunities in Himalayan pink salt, marble, and cement exports from Pakistan.

Pharmaceuticals also emerged as a growing sector for bilateral trade.

With banking channels already well-established between the two countries, the minister highlighted the importance of strengthening economic ties.

He emphasized the need to expedite the signing of a Memorandum of Understanding (MoU) for a Free Trade Agreement (FTA) with the East African bloc.

The High Commissioner requested swift progress on the MoU, which is currently under review by Pakistan’s law division.

Minister Jam Kamal proposed hosting an East African-specific trade conference in Pakistan, highlighting the country’s keen interest in the East African bloc.

He suggested including CARs in such initiatives to facilitate a comprehensive dialogue and create stronger trade corridors.

The minister also outlined Pakistan's thriving industries, such as surgical instruments and sports goods.

He recommended that the High Commissioner visit Sialkot and Gujranwala, key industrial hubs known for their exports and innovation.

The minister also highlighted the potential for Pakistani private companies in the power transmission sector and recommended the High Commissioner meet Pakistan’s Minister for Power.

The Kenyan High Commissioner expressed appreciation for Pakistan’s proactive approach, stating, “You opened the door before we knocked.”

He emphasized the architectural similarities between Kenya and Pakistan, which are gaining popularity, and appreciated recent developments such as tractor exports from Pakistan to Kenya.

The meeting concluded with a mutual commitment to strengthen trade relations, enhance cooperation, and work expeditiously on formalizing trade agreements.

Both sides expressed optimism about the future, with plans to coordinate visits and explore further opportunities across key industries.

Copyright Mettis Link News