Textile workers at EPZ Athi River. [Photo/ Business Daily]Kenya has crafted a new strategy to revitalise exports that have stagnated for some time.The ambitious plan targets six items for accelerated development via a public-private working group.The six sectors that will be prioritized include livestock and livestock products, agriculture, fisheries, manufactured products and handicrafts.The new strategy will see the private players in these sectors work with the government to streamline the value chain, with trade exhibitions held in target markets to promote business-to-business linkages.The National Export Development and Promotion Strategy aims to grow exports by 20 per cent by 2022.While unveiling the plan this week, Trade Principal Secretary Chris Kiptoo said safeguarding Kenya’s exports, with a keen eye on opening up new markets for processed products, underpins the new strategy, according to Daily Nation.Countries identified as key markets in the new push include USA, UK, Germany, Uganda, Egypt, Democratic Republic of Congo, Rwanda, Pakistan, South Sudan, Belgium and The Netherlands.Another strategy will aim at improving balance of trade between various countries, particularly Asian powerhouses China and India. Currently, trade between Kenya and the two countries is heavily tilted in their favour.The Trade PS said while imports from India last year were 12 per cent, and those from China at 13 per cent, Kenya only exported a paltry 1 per cent to these two countries.In 2015, Nation notes, Chinese imports to Kenya peaked at Sh320.8 billion, compared with Sh8.4 billion worth of exports, while India exported goods worth Sh411.8 billion to Kenya and received imports worth only Sh11.7 billion that year.
NATIONAL
How government intends to increase exports by 20 percent
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