Kenya’s ambitious project rolled out to increase exports by 20 per cent
NAIROBI - Kenya has crafted a new strategy to revitalise exports that have stagnated for some time.
The National Export Development and Promotion Strategy aims to grow exports by 20 per cent by 2022. The ambitious plan targets six items for accelerated development via a public-private working group.
While unveiling the plan, Trade Principal Secretary Chris Kiptoo said safeguarding Kenya’s exports, with a keen eye on opening up new markets for processed products, underpins the new strategy.
Kiptoo said Kenya has identified six sectors that will be prioritized including livestock and livestock products, agriculture, fisheries, manufactured products and handicrafts.
Data shows that about 60 per cent of Kenya’s exports comprise just 10 products, which go to only 12 destinations, half of which are in Africa.
Countries identified as key markets in the new push include USA, UK, Germany, Uganda, Egypt, Democratic Republic of Congo, Rwanda, Pakistan, South Sudan, Belgium and The Netherlands.
Kiptoo said another strategy will aim at improving balance of trade between various countries, particularly Asian powerhouses China and India. Currently, trade between Kenya and the two countries is heavily tilted in their favour. He said while imports from India last year were 12 per cent, and those from China at 13 per cent, Kenya only exported a paltry 1 per cent to these two countries.
In 2015, Chinese imports to Kenya peaked at Sh320.8 billion, compared with Sh8.4 billion worth of exports, while India exported goods worth Sh411.8 billion to Kenya and received imports worth only Sh11.7 billion that year.
Export Promotion Council chief executive Peter Biwott said Kenya should nurture incentives for both local and foreign direct investments as a way of promoting value addition, which will directly increase exports and create jobs.