Indonesia and Kenya ink four trade pact to boost economic growth
NAIROBI, Kenya - Kenya will work on scaling up its ties with Indonesia to increase trade. President William Ruto said investment scope will also be broadened to bring about a balance of trade that is in favour of the Southeast Asian country.
“We will seize our energies and create the necessary environment for increased trade between our countries,” he stated.
Investment and trade between the two countries were valued at more than $600 million last year.
The high-yielding areas of focus, the President highlighted, include textiles and apparel, energy, mining, and oil production and refining.
He made the remarks on Monday at State House, Nairobi, during a bilateral meeting with the President of Indonesia Joko Widodo on his State Visit to Kenya.
The two leaders also jointly addressed the media. He said Kenya will be seeking the support of Indonesia to penetrate the Association of Southeast Asian Nations, a fast‑growing trade bloc in Asia.
He explained that Kenya will also work with Indonesia to attract global firms to invest in value additional chains. President Ruto stated that the move would help Kenya grow its industries and attain a trade balance with Indonesia.
He added that Kenya will cooperate with Indonesia in textiles and apparel, energy, mining, oil production, and refining sectors.
“These sectors will grow our bilateral investment portfolio and contribute to increased trade.”
The President argued that the Government is particularly eager to facilitate Indonesian firms to invest in edible oil processing.
“Indonesia’s investment will support the Government’s efforts to ensure affordable and accessible edible oil for the majority of the Kenyan people, especially in rural areas,” he said.
President Widodo pledged to work with Kenya for their shared prosperity. He said his country was keen to ensure the partnership with Kenya was beneficial to the people.