Kenya will beginning today play host to the Chinese industrial fair exhibition, the first of its kind in the continent, with more than 57 Chinese firms having already confirmed participation – keen to seal lucrative deals in transport and infrastructure as well as healthcare and education fields.
The China-Africa Industrial Capacity Cooperation Exposition, will be held at the Kenyatta International Conference Center (KICC) and is expected to provide platform for large and medium sized Chinese companies looking for new trade opportunities in Africa.
Speaking while addressing journalists, the Economic and Commercial Counsellor at the Chinese Embassy in Nairobi, in Nairobi Guo Ce, said that the choice to host the China-Africa industrial expo in the country was because of the bilateral relations the Asian country enjoys with Kenya.
“China has become the largest trading partner, the largest creditor and main source of contractors for Kenya. In recent years, Kenya has ranked among top tow in the list of target recipients of investments from Kenya,” said Mr. Ce.
According to figures from Kenya-China Economic and Trade Association, it is estimated that 70 Chinese enterprises under the association have provided 42,468 direct jobs to Kenyans, while a report by McKinsey indicates that there were 396 Chinese firms in Kenya as of December last year.
Kenya Investment Authority (KenInvest) Chief executive Moses Ikiara expects the four-day industrial trade fair which ends on December16 to further boost bilateral cohesions and improve trade volumes between the two countries.
Trade volume between the two countries stood at USD 3.7billion in 2016, according to statistics from the authority, with China a key beneficiary judging by high bulks of imports arriving from the Asian nation.
“This is a combined exports and imports trade volumes but we hope such exhibitions will expose Kenyan firms to have an opportunity to sell products and services to China to balance the trade,” said Ikiara.