Kenya and Iran will look to build their trade portfolio in agro processing, textiles, leather, management and technical services and materials, oil, gas, mining and constructive materials.
Speaking during a Kenyan-Iranian bilateral trade meeting in Nairobi, the Cabinet Secretary, Ministry of Industry, Trade and Cooperatives, Adan Mohamed confirmed the Iranian delegation led by the Iranian Minister of Trade, Mining and Trade, Mohammad Reza Nezmatzadeh is in the country seeking attractive investment opportunities to invest in.
Mohamed said the meeting is a follow-up of a memorandum signed between the two countries during the WTO and the successful visit by the Iranian Minister last year.
According to Mr. Nezmatzadeh, Iran is targeting better relations with Africa and Kenya competitive positioning in Africa is crucial in this agenda.
Iran, the 4th largest producer and exporter in the world for tiles and Ceramics has had a fruitful relationship with Kenya. It is currently a large importer of Kenyan Tea, horticulture and a major exporter of Oil to Kenya as it has plans to expand their reach in East Africa.
Kenya boasts being the fifth largest economy south of the Sahara, having a well-educated, qualified and skilled youthful labour force, advanced infrastructure and IT capabilities and access to vast agricultural resources is well placed to provide a in the coming years.
The bilateral partnership comes a time when Kenya has ramped up its business environment, proposed tax incentives for Export based industries like Special economic zones in Mombasa, Lamu and Kisumu.
Kenya has also been active industry sector development in the country through the planned construction of a leather industrial park in Machakos to increase production capacity in the country.