Kenya eyes Dubai expo to grow Gulf exportsTuesday November 23 2021
Kenya seeks to grow exports to Arabic Countries such as United Arab Emirates (UAE), Saudi Arabia, Qatar, among others to Sh280.68 billion next year through its participation in the Expo 2020 Dubai.
The Kenya Export Promotion and Branding Agency (Keproba) on Monday said that it targets to grow export value from Sh61.75 billion in 2019 to Sh280.75 billion in 2022, representing a four-fold increase.
Kenya is among 192 countries that are showcasing their wide array of products such as apparel, avocados, bulk black tea, cut flower, goat meat, vegetable, coffee, textiles, among others at this year’s Expo that started in October 2020 and will end in March next year.
The event, which happens after every five years, will attract 17 million footfalls from all around the world, enabling the Country to widen its export market from the usual European and East African markets.
"The event creates an opportunity for Kenya to grow its export to the Gulf Cooperation Council (GCC) from Sh61.75 billion ($550 million) in 2019 to Sh280.75 billion ($2.5 billion) in 2022.
"By participating in the expo, Kenya will enhance its profile and image in the UAE and the Middle East, while at the same time push the Kenya brand to the World," Keproba chief executive officer Wilfred Marube said in Dubai.
The Agency targets to achieve this through business-to-business engagements between Kenyan and Gulf countries businessmen, matching sessions between industry players and buyers, organising outbound and inward trade and investment missions as well as research and development on the opportunities for Kenyan Businesses.
"Over and above the high disposable income in the region, the region's high affinity to foreign products and extreme diversity opportune Kenya with the potential to realize export growth....," Mr Marube said.
Currently, Kenya exports a mere Sh62.3 billion worth of goods to the GCC with the potential to grow it further.
"Kenya's exports to the Gulf region....command a mere market share of 0.11 percent (Sh61.75 billion ($550 million) out of a potential of Sh58.9 trillion ($525 billion)) of the region's export," Keproba CEO Marube said.
Apart from GCC Nations, other markets that Keproba seeks to grow exports are the United States of America from Sh52.47 billion ($467.32 million) now to Sh100.92 billion ($898.92 million) in 2023, and China from Sh1.32 billion ($109.9 million) to Sh1.84 billion ($163.7 million) between the period.
It also targets to grow export in Uganda, Tanzania, Netherlands, Ethiopia, Italy and Germany by Sh2.02 billion ($179.9 million), Sh1.18 billion ($104.8 million), Sh4.6 billion ($409.3 million), Sh610.75 million ($54.4 million), Sh792.63 million ($70.6 million) and Sh1.21 billion ($107.4 million) respectively in the period.