Kenya calls for increased intra-Africa trade
Kenya has called for an increase in intra-Africa trade in order to provide a market for exports from the African countries. Kenyan Trade and Industry Ministry Permanent Secretary, David Nalo said this will in turn help boost economic development on the continent. He was addressing the re-launch of the Proctor and Gamble Company's products on the local market on Thursday, 17 April 2008.
Nalo said over the last 10 years, Kenya's trade within African states had been on the decline.
Exports from Africa to the rest of the world grew by 12% while trade within Africa growth of only 9% was recorded.
Nalo said trade between the Common Market for East and Southern Africa (Comesa) with the rest of the world grew by 14% while trade within Comesa registered growth of some 11%.
This showed that trade within the trading bloc was low despite the available opportunities.
He called for the deepening of trade within the regional blocks in Africa, adding that Kenya offered good opportunities for investment.
United States Ambassador to Kenya Michael Ranneberger called for a change in the common perception that multinational companies were out to exploit developing countries.
Ranneberger said multinational companies with corporate social responsibility, strategies and budgets were helping in raising the living standards of people in most developing economies.
The ambassador said companies such as American personal care maker Proctor and Gamble were contributing immensely to the realisation of Millennium Development Goals by providing services that actualise the goals.
Article published courtesy of BuaNews
