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Kenya, Somalia Commits to Enhance Bilateral Relations in Trade Investment

Nairobi — Kenya and Somalia have committed to deepen their bilateral relations and economic ties in trade and investment with a view of boosting the economy of both nations.

The official visit comes on the heels of the third Session of the Joint Commission of Cooperation (JCC) between the two countries held in Nairobi from May 3 to 5, 2024.

President Ruto with PM Hamse

“The two leaders reaffirmed their commitment to deepen bilateral relations in trade and investment. They recognised the opportunity for both States to complement each other’s resources, goods, services and personnel resulting in a cohesive bilateral trade system,” Prime Cabinet Secretary and Cabinet Secretary Musalia Mudavadi stated.

Following a meeting between Deputy President Rigathi Gachagua and Somalia’s Prime Minister Hamza Abdi Barre in Nairobi on Tuesday, the two countries also discussed joint elimination of cartels and promoting transparent and sustainable trade practices that benefit all stakeholders.

The meeting held at the Deputy President’s Official Residence in Karen, Nairobi, was also attended by senior Government officials from the two nations.

In his remarks Gachagua noted that despite the rich historical and cultural ties between the two neighbouring nations, the bilateral trade was still minimal.

He observed that in 2022, Kenya’s exports to Somalia amounted to USD124.5 million (Sh15 billion) and imports were USD581.7 thousand (Sh71.5 million).

“The two leaders reaffirmed their commitment to deepen bilateral relations in trade and investment. They recognised the opportunity for both States to complement each other’s resources, goods, services and personnel resulting in a cohesive bilateral trade system,” Prime Cabinet Secretary and Cabinet Secretary Musalia Mudavadi stated.

The meeting held at the Deputy President’s Official Residence in Karen, Nairobi, was also attended by senior Government officials from the two nations.

In his remarks Gachagua noted that despite the rich historical and cultural ties between the two neighbouring nations, the bilateral trade was still minimal.

He observed that in 2022, Kenya’s exports to Somalia amounted to USD124.5 million (Sh15 billion) and imports were USD581.7 thousand (Sh71.5 million).

“The two leaders reaffirmed their commitment to deepen bilateral relations in trade and investment. They recognised the opportunity for both States to complement each other’s resources, goods, services and personnel resulting in a cohesive bilateral trade system,” Prime Cabinet Secretary and Cabinet Secretary Musalia Mudavadi stated.

The meeting held at the Deputy President’s Official Residence in Karen, Nairobi, was also attended by senior Government officials from the two nations.

In his remarks Gachagua noted that despite the rich historical and cultural ties between the two neighbouring nations, the bilateral trade was still minimal.

He observed that in 2022, Kenya’s exports to Somalia amounted to USD124.5 million (Sh15 billion) and imports were USD581.7 thousand (Sh71.5 million).

This, he said, will improve connectivity and enhance transportation links and boost regional trade.

Source: Capital FM

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