PUBLISHED ON September 29th, 2014

Trade imbalance bad for Kenya-chamber

THERE is a huge trade imbalance in the country which has seen Kenya continue to import more than it exports, the Kenya National Chambers of Commerce has said.

KNCCI yesterday said the only trade with Pakistan is in favour of Kenya but it remains a net importer from other international markets.

According to Kenya Port Authority statistics, Kenya imports 85.8 per cent compared to an export average of 13.4 per cent of the total throughput at the Mombasa port. Transshipment cargo stands at 0.8 per cent.

Speaking during opening of the imports-exports conference and expo, KNCCI vice chairman Laban Onditi called on the business community to venture into the international and regional markets, to balance the country’s trade.

East Africa Affairs, Commerce and Tourism Cabinet secretary Phyllis Kandie said measures are being explored to increase Kenya’s exports.

In aspeech read by PS John Konchela, Kandie said the ministry has prepared the “National Trade Development Policy” that will define the role of import and export trade in the country’s development agenda.

She said the government has also in the recent past promoted Kenya’s exports to Nigeria, United Arab Emirates, the US, and China, which is part of opening up the export markets for the country.

KPA chairman Danson Mungatana said the authority will give incentives to Kenyan exporters.

“We will make special incentives to improve trade. Let’s turn the tables from being a net importer and become an exporter. We shall support you to succeed,” said Mungatana.

Importers, exporters, clearing agents and regulatory authorities are meeting in Mombasa for the two days event, to help address trade challenges and improve trade through the port of Mombasa.

Source URL: The Star

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