On Tuesday, the European Union signed a €25 million funding commitment to Trademark Africa to boostKenyan exports and enable a five-year program to help the government enable an enabling businessenvironment. bottom.
The signing, which took place during the EU-Kenya Business Forum, was witnessed by dignitariesincluding Kenyan President William Rutt, his EU Ambassador to Kenya Henriette Geiger, and TradeMinister Moses Clear.
Called the Business Environment and Export Enhancement Program (Beep), the facility is beingimplemented in partnership with the Government of Kenya.
Beeeep complements the goals of the Integrated National Export Development and Promotion Strategy(INEDPS), which aims to increase agricultural exports by an average of 25% annually.
Negative trade balance The overarching goal is to eliminate persistently negative trade balances in asustainable and inclusive manner through the promotion of export growth, factor productivity, andeconomic development and job creation. “As of today, the EU is the largest destination for Kenyanexports, accounting for her Ksh 170 billion ($1.3 billion) in 2021, with 500 businessmen (250 from Kenyaand 250 from the European Union). The Business Forum is organized by the European Union in partnershipwith the Kenya Private Sector Alliance (Kepsa) and the European Business Council (EBC).
Investment destinations “Beep brings together the private sector, government and financial institutions.Beeep is fully in line with our global gateway strategy.With EU support to create a more favorablebusiness environment both at national and district level, Kenya will become an even more attractive It willbe an investment destination,” saidGeiger. Beep focuses on solutions that solve plantation gaterestrictions, warehousing and logistics challenges, processing, value creation, and information access.“We aim to build a strong partnership to further opentrade and investment opportunities between Kenya andthe European market.At the same time, we are committed to the overall business environment in Kenya andthe government We are working with to make the country more competitive and attractive to investors. ©Copyright 2022 Nation Media Group. (Syndigate.info)。
