Corporate News

Global economies rush to strengthen ties in EAC market

Share Bookmark Print Email
Email this article to a friend

Submit Cancel
Rating
Formation of the East African Community common market has opened opportunities for top economies like Japan and US. Photo/FILE

Formation of the East African Community common market has opened opportunities for top economies like Japan and US. Photo/FILE 

By ALLAN ODHIAMBO  (email the author)
Email this article to a friend

Submit Cancel


Posted  Wednesday, August 11  2010 at  00:00

Kenya already has strong working relations with Turkey with the Cabinet having ratified a trade pact signed between the two nations in early 2009.

Share This Story
Share

The agreement was signed by Turkish President Abdullah Gul and President Mwai Kibaki during a visit to Kenya as part of efforts to explore new economic and development partnerships, with statistics showing that as at 2008 the value of trade between the two countries had hit the Sh7 billion mark.

Under the existing bilateral trade agreement, Turkey exports a wide range of consumer goods to Kenya including hazelnut, minerals, chemical fertilisers, resins, polymer bags and textile. Kenya, on the other hand, mainly exports tea, hemp, and arts and crafts to Turkey, and also benefits from a wide range of technical cooperation projects under the Turkish International Co-operation Agency (Tica).

The Netherlands and Denmark also posted envoys to the EAC secretariat shortly after the US and Turkey.

Dr Ad Koekkoek serves as Netherland’s envoy to the EAC having handed in his papers in July and doubles up as the Dutch ambassador to the United Republic of Tanzania.

Mr Bjarne H. Sorensen on the other hand represents Denmark in Arusha.

The Dutch-EAC link is critical for horticultural produce and cut flower exporting nations such as Kenya.

The Netherlands hosts the biggest flower auctions in the world.

Japan has also since joined the scramble for EAC with the posting of Mr Hiroshi Nakagawa to Arusha on Monday.

He doubles up as the envoy to the United Republic of Tanzania.

The Asian nation is actively involved in the region through the Japan International Cooperation Agency (Jica).

« Previous Page 1 | 2