By Luke Anami
Turkey will establish an export processing council for her investors in Kenya, Turkish Ambassador Junker Kayalar has said.
The move is meant to reposition its trade with Kenya and enable it take advantage of the larger East African Community (EAC) population of about 130 million.
The envoy spoke yesterday announcing a four-day second East African Turkish Trade Fair to be held at KICC starting today.
Mr Kayalar said Kenya was strategic to their business interests in the region.
"Trade between Kenya and Turkey has increased in the past four years. The council will help Turkish investors maximise investment opportunities in the region," he said.
Kalayar said the Turkish Government is planning joint ventures between the two countries to exploit the opportunities the EAC common market brings," he said.
Statistics indicate trade between Turkey and Kenya increased from Sh15 million in 2003 to Sh245 million in 2008. But there was a drop in the business volumes last year due to the global financial crisis.
Kayalar said the trends in the first quarter this year indicate a potential for steady growth.
Trade Volume
This will be bouyed by the commencement of the EAC common market that takes effect on July 1, he added.
"The trade fair exhibition will act as a vehicle to link Turkey's products with East African countries that possess global re-exporting capabilities," he said.
Kayalar said plans are at advanced stage for Turkey to sign a trade agreement with Kenya that will remove double taxation.
The trade fair is taking place under the patronage of Turkish Under Secretary of the Prime Ministry of Foreign Trade, Turkish Embassy and the Turkel Fair Organisation Inc.
Turkey is ranked among top 20 countries in world trade with a volume of $200 billion.
The country exports high quality products and has re-export firms in East Africa.
Source: The Standard | Online Edition
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