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SA-Kenya trade growing — Motlanthe

26th November 2010

By: Sapa

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Processes have been set in motion to address some of the impediments to trade and contact between Kenya and South Africa, Deputy President Kgalema Motlanthe said on Friday.


Addressing a Kenya-SA business seminar in Nairobi while on an official visit to that country, he said that South Africa and Kenya had enjoyed good relations over the years, especially from 1994.

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His current visit was intended to strengthen these relations, especially in the area of trade and investment.


"We have set in motion processes to address some of the impediments to trade and contact between our two countries," Motlanthe said.

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Among other things, an agreements addressing issues of double taxation and promoting the sharing of skills, knowledge and technology, had been signed.

It was a statement of fact that Kenya was a country with great economic potential and an important destination for SA trade and investment.


The Bilateral Trade Agreement and the Memorandum of Understanding on Economic Cooperation were signed in South Africa on September 19, 2008.


But, there was agreement that the current trade situation merited elevation, putting structures in place that would support and facilitate trade.


With this in mind, the Inaugural Session of the SA-Kenya Joint Trade Commission (JTC) was signed on November 4, 2010.


The JTC was intended to streamline current trade exchanges which had seen positive growth rates, slowly outpacing the negative effects of the global financial crisis, he said.


"Our combined volume of trade increased steadily over the past five years and has continued to show positive signs of maintaining this upward mobility in the years to come.


"On average, the volume of trade since 2005 increased by almost 30% year-on-year.


"As both governments of South Africa and Kenya we remain committed to promoting trade and investment between our countries and our business entrepreneurs would hopefully take full advantage of the conditions we are creating," Motlanthe said.
 


 

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