Kenya, Mauritius keen to strengthen business ties
The Kenya National Chamber of Commerce and Industry (KNNCI) hosted a delegation from the Mauritius Economic Development Board (EDB) ahead of the Kenya-Mauritius Business & Investment Forum set for October 13-14, 2022, in Nairobi.
The KNCCI hosted the Mauritian delegation when the Mauritius Economic Development Board (EDB) Chairman Mr. Hemraj Ramnial CSK, paid a courtesy call to the Chamber leadership in the Kenyan capital.
Mr. Hemraj and the EDB team were received by the Chamber President Mr. Richard Ngatia and KNCCI Board of Directors.
KNCCI and EDB agreed to jointly establish a Joint Business Council to oversee implementation of trade and investment objectives as envisioned by both countries.
The discussions emphasized on the importance of exchanging trade information and jointly hosting trade missions and exhibitions to establish new market and create joint ventures.
Opportunities were highlighted in Agriculture, Manufacturing, Information and Communication Technology, Banking and Finance, Tourism, Infrastructure, Building and Construction, Blue Economy and the Orange Economy (Textile and Leather).
Kenya and Mauritius maintain a cordial trade relationship having established a Joint Commission Council mandated to enhance trade between the two countries.
The total trade between the two countries amounts to USD 69.46 million in 2021, with the balance of trade in favor of Mauritius. Mauritius is among top African investors in Kenya, mostly in financial services and the sugar sector.
The Double Tax Treaty signed in 2019 and ratified by Kenya in 2020 creates a legal framework for use by the Revenue Authorities in both counties for the avoidance of double taxation. A Memorandum of Understanding exists between the two national standards bodies for cooperation in standardization and related activities with a view to eliminating technical barriers to trade.