Pakistani investors eye trade deals in Nairobi talks

Top Pakistani government officials and businesses have jetted into Kenya for a two-day meeting with government and private sector leaders as Islamabad hunts for trade and investment deals in the country.

They are attending the first-ever Pakistan-Africa Trade Development Conference, an event jointly hosted by Islamabad’s ministries of Commerce and Foreign Affairs, in Nairobi Wednesday as Pakistan eyes to deepen trade and investment deals with Kenya and the region.

Ahead of the conference, a brief from the Pakistani High Commission in Nairobi, said Pakistani Foreign minister Shah Mehmood Qureshi, who is leading a business delegation to Kenya, is expected to pitch deals and opportunities for government and private sector in various sectors.

“The conference aims to bring the two sides together for a meaningful exchange to enhance trade and economic relations between Pakistan and the African continent,” said the brief on the conference.

In 2018, Pakistan was the second biggest destination of Kenyan exports mainly tea behind Uganda, importing goods worth Sh59.4 billion from Kenya mostly tea. In the same year, Kenya brought in goods worth Sh21.4 billion from the Asian country.

Last year, Pakistan also cemented its position as the largest buyer of Kenyan tea with stocks worth Sh35 billion in the 10 months to October.

Latest data from the Tea Directorate indicates Karachi bought 14.8 million kilogrammes of tea, which was a marginal increase from 14.7 million kilos in the previous year.

Pakistan has remained a major buyer of the Kenyan beverage, taking up close to 40 percent of total production.

Source: Business Daily Newspaper.

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