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Find all the economic and financial information on our Orishas Direct application to download on Play StoreKenya has has taken a new step in strengthening its commercial relationships with China by concluding a preliminary trade agreement offering 98.2% of its export products access to the Chinese market free of rights. The announcement was made on Thursday by the Kenyan Ministry of Commerce, which also confirmed the opening of discussions with a view to the signing of a comprehensive bilateral trade agreement between the two countries.
According to the official press release, these talks, revealed for the first time, allowed to arrive at a provisional framework intended to facilitate exchanges and to improve the competitiveness of Kenyan products in one of the largest markets global. This initiative is part of a wider dynamic of economic ties between Nairobi and Beijing.
This tightening of the links comes in the wake of the State visit carried out last year in China by President William Ruto, during which several agreements financing and cooperation agreements have been signed. The Kenyan authorities y see a strategic lever to support export growth and attract more investments.
Faced with
critical of some American officials, William Ruto defended this choice
diplomatic and economic, believing that Kenya should increase its
exports to China in order to correct a sharp trade deficit
unbalanced in favor of Beijing. This increased opening of the Chinese market
could thus offer new perspectives to producers and exporters
Kenyans.
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