Turkey Kenya Business Council chairmen Ali Bozatli and Abdulwalli Shariff of Kenya said although Kenya and Turkey were big nations, trade relations between them were still low.
The pledge comes as it shifts policy to a combination of trade and investment. Turkish ambassador to Kenya Tuncer Kayalar says the country will contribute to establishment of textile and construction materials, making factories in Kenya in a bid to reduce trade imbalance that exists between the two nations.
Bilateral trade between Kenya and Turkey has grown from $76 million (Sh6.7 billion) in 2009 to $100 million (Sh8.9 billion) in 2010, and is heavily in favour of Turkey.
We can contribute
The country exports are mainly steel, fertiliser, wheat flour, paper products and construction materials. Kenya exports tea, leather, tobacco and tomato seeds.
“We can contribute to setting up of industries in Kenya,” Mr Kayalar said after launching Turkey Kenya Business Council in Nairobi.
“We want to establish production here so that value addition stays here for Kenya to start exporting high value products.”
The ambassador said that with the business council, his government expects trade between Kenya and Turkey to grow more sustainably.
“Apart from trade, it is investment that counts for us,” he told reporters. “As Turkey, we see it necessary to contribute to employment creation in this country.”
Turkey Kenya Business Council chairmen Ali Bozatli and Abdulwalli Shariff of Kenya said although Kenya and Turkey were big nations, trade relations between them were still low.
Ensure it succeeds
Mr Shariff said the council would do its best to ensure it succeeds in improving trade between the two countries and increasing
Turkish investment in Kenya.
Mr Bozatli said Turkey, located between Asia and Europe, presents Kenyan businesses with opportunities to reach two continents.
Mr Kayalar said that to encourage foreign companies set up shop in Kenya, the government should give them incentives such as those provided to companies operating in Export Processing Zones.
via Daily Nation: – Business News |Turkey seeks trade balance with Kenya.
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