Chinese, British, Kenyan business organizations sign MoU
China Daily
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The Kenya China Economic and Trade Association, British Chamber of Commerce Kenya and Kenya Private Sector Alliance on Thursday signed a memorandum of understanding (MoU) to strengthen their commercial cooperation in Kenya.

Wu Peng, Chinese ambassador to Kenya, delivers a speech during the MoU-signing ceremony involving the Kenya China Economic and Trade Association, British Chamber of Commerce Kenya and Kenya Private Sector Alliance in Nairobi, Kenya on October 31, 2019. (Photos: China Daily)

The MoU will provide a framework and facilitate cooperation among the parties in promoting commercial relations between companies from Kenya, China and the UK.

It will nurture, deepen and strengthen the framework of collaboration and cooperation on agreed projects and activities between the parties.

The MoU will facilitate the establishment of areas of common interest and foster cooperation and collaboration as well as create efficient means of communication in order to support the successful implementation of activities that advance cooperation between companies from the three countries.

Wu Peng, Chinese ambassador to Kenya, said the idea behind the MoU, was to establish a platform for the private sector to contribute to Kenya's economic growth.

Wu thanked companies from different countries for their efforts to help Kenya to develop its infrastructure and called on all enterprises to work in partnership to realize win-win cooperation with all stakeholders.

"Through the new MoU, I believe you can achieve more tangible results in the near future. I'm also expecting more stakeholders to sign agreements in multilateral cooperation so that we can make our contribution in realization of the Kenya's dream," he said.

Wu praised Kenya for the ongoing development of special economic zones, saying that's how China was able to develop fast. He added that more jobs for the Kenyan youth can be created through manufacturing.

Carole Kariuki, CEO of KEPSA, Li Changgui, chairman of KCETA, and Graham Shaw, chairman of BCCK, sign an MoU on October 31, 2019 at the Chinese embassy in Kenya.

Jane Marriott, British high commissioner to Kenya, said she hopes that through the agreement, more companies from Great Britain, China and Kenya will set up or collaborate in the respective countries.

"We at the High Commission are always encouraging and helping British companies to invest in Kenya and are proud to welcome this partnership with China and Kenya," she said.

Marriott said the UK Department for International Development's Partnership for Investment and Growth in Africa is a good opportunity to explore the potential for UK businesses to partner with Chinese manufacturing or agriculture investments and for Kenyan private sector companies to make a positive impact in the east African country.

She said the UK firm's technical design, environment and contract management and provision of legal services knowhow and Chinese strengths in construction represent a winning solution for Infrastructure in Africa.

Carole Kariuki, CEO of Kenya Private Sector Alliance, said the MoU will reenergize the parties' engagement and build on the progress made since the signing of the first MoU in May 2017.

"The agreement is a crucial partnership in recognition of Kenya's long history of cordial relationship and cooperation with both the UK and China stretching over hundreds of years," she said.

Kariuki said her organization remains open to facilitate investment for UK and Chinese companies across Kenya by sharing investment information, facilitating links with relevant authorities and working together in public-private dialogue to address cross-cutting policy and business regulatory issues.

Li Changgui, chairman of Kenya China Economic and Trade Association, said since the signing of the first MoU about three years ago, more business interactions have unfolded.

"Our member enterprises have conducted substantial cooperation and communications with a number of British companies like Atkins, Risk Control, Pinsent Masons and PricewaterhouseCoopers and the cooperation areas have also been enlarged," he said.

Li hoped that the renewed MoU will continue to serve as a basis for cooperation among the three sides.

"I believe we can work out a mechanism to share our respective best practices in doing business here in Kenya," he said.