Work continues on strengthening bilateral relations between Italy and Kenya.
On 5 October 2018, the new Italian Ambassador to Kenya, Alberto Pieri, met the Deputy President of Kenya William Ruto at the Karen office, Nairobi County, confirming the excellent relations between the two countries and the desire to improve the synergies that have already led to important investments by Italian companies in Kenya.
“We continue to deepen bilateral relations with Italy and enhance collaboration in the areas of infrastructure development, including construction of dams; manufacturing and value addition, especially the leather industry – wrote Ruto on its social profiles – Kenya welcomes the growing interest of Italian firms wishing to invest in our country, a move that will create jobs and support growth”
Great satisfaction even from the Italian Ambassador. “Thanks to Deputy President William Ruto for the very fruitful meeting that we had today on It-KE collaboration. Looking forward to working together to enhance and deepen our bilateral ties”, he has commented.
OPPORTUNITIES FOR ITALIAN EXPORT
The Doing Business rank of Kenya improved to 80 in 2017 from 92 in 2016.
The Country is member of the World Trade Organization since its inception in January 1995; it is also a member of COMESA (Common Market for Eastern and Southern Africa). On 21 March 2018 Kenya signed the Africa Continental Free Trade Area (AfCFTA) Agreement, a trade agreement between 44 African Union member states, aiming at creating a single continental market for goods and services, with free movement of business persons and investments.
According to SACE, Kenya is the 94° destination market for Italian exports and the 7° destination market for Italian exports to Sub-Saharan Africa.
Thanks to its strategic position and the potential for economic and social development, Kenya is considered an important partner for Italy. In 2017 Italian exports amounted to approximately 182.2 million euros.
Italian exports consist mainly of mechanical engineering (31%), food and beverages (14%), chemicals (13%), electrical equipment (8%), mineral products (8%), wood products (5%), others (21%).
In 2017 Italian imports from Kenya amounted to 54.1 million euros, up 3.9% on the previous year.
The most significant investment opportunities are present in the following areas: construction, infrastructure, food processing, packaging, transportation, and energy.
Written by Alessandra Faieta