Kenya Chamber of commerce- Mauratius hold economic talks with KNCCI president Ngatia.
Nairobi, 12th October 2022: The Kenya National Chamber of Commerce and Industry (KNCCI) President Richard Ngatia and the KNCCI Board today received a courtesy call from the Mauritius Economic Development Board (EDB) chairman Mr. Hemraj Ramnial CSK ahead of the Kenya-Mauritius Business and Investment Forum set to be held from tomorrow 13th and 14th October 2022 at Mercure Nairobi Hotel (formerly Crowne Plaza Hotel), Upper Hill, Nairobi.
The discussions between the two teams emphasized the importance of exchanging trade information and jointly hosting trade missions and exhibitions to establish new potential markets and create joint ventures.
Among the opportunities that were highlighted include the areas of Agriculture, Manufacturing, Information and Communication Technology, Banking and Finance, Tourism, Infrastructure, Building and Construction, the Blue Economy, and the Orange Economy (Textile and Leather).
Kenya and Mauritius maintain a cordial trade relationship having established a Joint Commission Council mandated to enhance trade between the two countries.
The total trade between the two countries amounted to USD 69.46 million in 2021, with the balance of trade in favoUr of Mauritius. Mauritius is among the top African investors in Kenya, mostly in financial services and the sugar sector. The Double Tax Treaty signed in 2019 and ratified by Kenya in 2020 creates a legal framework for use by the Revenue Authorities in both counties for the avoidance of double taxation.
A Memorandum of Understanding exists between the two national standards bodies for cooperation in standardization and related activities with a view to eliminating technical barriers to trade.
KNCCI and EDB will jointly establish a Joint Business Council to oversee the implementation of trade and investment objectives as envisioned by both Countries.
