Kenya, China sign Pact to boost industrial cooperation

NAIROBI, Kenya, Sept 4 – Kenya and China on Thursday signed a Memorandum of Understanding (MOU) aimed at boosting trade and industrial cooperation as the Kenya breaking news | Kenya news today |..
✨ Key Highlights
Kenya and China have signed a Memorandum of Understanding (MOU) to boost trade and industrial cooperation, coinciding with the 8th Kenya International Industrial Expo (KIIE) in Nairobi. This agreement aims to expand Kenya's manufacturing base and create jobs.
- The agreement was signed between the Kenya National Chamber of Commerce and Industry (KNCCI) and the China Chamber of Commerce for Import of Machinery and Electronic Products (CCCME).
- Kenya's manufacturing currently contributes 7.6 percent of its GDP, with a target of 15 percent.
- KNCCI President Erick Rutto stated that a 1% increase in manufacturing generates at least 200,000 direct and indirect jobs.
- Over 200 Chinese firms are exhibiting at the fair, attracting more than 6,000 delegates.
- Kenya-China trade surpassed $8 billion (Sh1.16 trillion) in 2024.
Continue Reading
Read the complete article from Capital Business