Blog Details

MERCHANT CHAMBER OF COMMERCE INTERACTION SEESION ON "DOING BUSINESS WITH KENYA " WITH H.E.MR WILLY ,BETT,AMBASSADOR OF THE REPUBLIC OF KENYA IN INDIA ON 15TH NOVEMBER,2018 AT MCCI CONFERENCE HALL

WELCOME ADDRESS By, Shri Vishal Jhajharia President , MCCI H.E. Mr. Willy K. Bett, Ambassador of the Republic of Kenya in India Mr. Pranay Poddar, Honorary Consul of Kenya in Kolkata Distinguished Guests, Members & Media Friends, I extend a hearty and cordial welcome to all of you to this Interactive Session on “Doing Business with Kenya” with H.E. Mr. Willy K. Bett, Ambassador of the Republic of Kenya in India, here today at the Chamber. We are indeed grateful to H.E. Ambassador Bett for taking time out of his busy schedule to be here with us as the Chief Guest, and the Chamber greatly values his presence today at this very important session which aims to explore the dynamics of India-Kenya trade & economic relations. Excellency, I warmly welcome you to the chamber. I also welcome Mr. Pranay Poddar, Honorary Consul of Kenya in Kolkata and thank him for his support towards organizing this Interaction. I am sure, today’s Session will be extremely enriching for all of us, and will be able to lay down the possible future roadmap of bilateral co-operation between the two countries. Ladies & Gentlemen, Ambassador Bett is the former Cabinet Secretary in the Kenyan Ministry of Agriculture, Livestock, and Fisheries. He has also been the Managing Director of the Kenya Seed Company, where he contributed significantly to the company’s growth and revenue. Before that, he was a marketing manager at the Kenyan Postbank for 18 years. He holds an MBA from the University of Nairobi. In January 2018 he was appointed as the Ambassador to India. Friends, India and Kenya are maritime neighbours. The contemporary ties between India and Kenya have now evolved into a robust and multi –faceted partnership, marked by regular high- level visits, increasing trade and investment as well as extensive people to people contacts. The presence of Indians in East Africa is documented in the ‘Periplus of the Erythraean Sea’ or Guidebook of the Red Sea by an ancient Greek author written in 60 AD. A well established trade network existed between India and the Swahili Coast predating European exploration. India and Kenya share a common legacy of struggle of Kenya. Indian Vice President Dr. S Radhakrishnan visited Kenya in July 1956.Prime Minister Indira Gandhi visited Kenya in 1970 and 1981.Prime minister Moraji Desai visited Kenya in 1978, President Neelam Sanjeeva Reddy in 1981. The State visit of PM Narendra Modi to Kenya on 10-11 July 2016 gave a new impetus to bilateral partnership. PM Narendra Modi and President Uhuru Kenyatta discussed a wide range of bilateral issues and signed Mous in varied sectors including defence, trade and developmental assistance. PM Modi addressed a gathering of over 20,000 Indian Community members in Nairobi. President Uhuru Kenyatta , accompanied by senior officials and a high level business delegation , also paid a state Visit to India in January 2017 on an invitation extended by PM Narendra Modi. Discussions were held on key elements of bilateral relationship including maritime security and surveillance , Counter –terrorism , agriculture , health ,e-Governance, renewable energy especially international Solar Alliance etc. There have been many more important Ministerial visits and exchanges between the two countries over the last 2 years, and all these visits and dialogues, I believe have contributed immensely towards strengthening of bilateral co-operation and made it more comprehensive. An India – Kenya Trade Agreement was signed in 1981, under which both countries accorded Most Favoured Nation status to each other. The India-Kenya Joint Trade Committee (JTC) was set up at Ministerial level in 1983 as a follow–up to the agreement. The JTC has met seven times since , the last in February 2015 in New Delhi . India was Kenya’s largest trading partner in 2014-15 with bilateral trade of US$ 4.235 billion. However , for year 2016-17,bilateral trade was US$ 2.30 billion and for 2017-18,bilateral trade was US$ 2.05 billion. Main Indian exports to Kenya include petroleum products, pharmaceuticals, Steel products, machinery , yarn , vehicles and power transmission equipment .Main Kenyan exports to India include soda ash, vegetables, tea ,leather and metal scrap. According to the Kenya Investment Authority (KenInvest), India is the second largest investor in Kenya. Over 60 major Indian companies have invested in various sectors including manufacturing, real estate, pharmaceuticals , telecom , IT & ITES, banking and agro-based industries. Indian investments have resulted in creation of thousands of direct jobs to Kenyans. Indian pharmaceutical companies have a substantial presence in Kenya. A bilateral Double Taxation Avoidance Agreement (DTAA) was signed in 1989.Revised DTAA was signed in July 2016 and came into force on 30 August 2017. India is also the third largest source of inbound tourists to Kenya. Over 60,000 Indian tourists visited Kenya in 2017. Kenya Tourism Board (KTB) has launched a marketing campaign in major Indian cities to increase tourist arrivals from India. Many Kenyans visit India for medical treatment. A vibrant community of persons of Indian origin presently numbered around 80,000 including an estimated 20,000 Indian citizens stay in Kenya. Several Kenyans of Indian origin have distinguished themselves as lawyers, judges, doctors and academics. There are about 3,500 Kenyan students currently studying in 50 Institutions throughout India. In 2017-18, over 400 Kenyan nationals availed training and scholarships programme in various fields under the Indian Technical & Economic Cooperation (ITEC) Programme; India-Africa Forum Summit and Aid to Africa Programme. An MoU on establishment of an ICCR Chair on Indian studies between ICCR and University of Nairobi was signed in March 2015. Certainly, Tourism, Culture and Education can play major roles in further strengthening the bilateral relationship between the two countries. I believe, going forward, the future of Indo-Kenya bilateral relations will continue to flourish to a foreseeable prosperous zenith for the mutual benefit of the peoples of India and Kenya. Sectors like agri and food processing, health, e-governance, solar energy etc. can play key role in strengthening bilateral trade & investment linkages, and in this regard, the State of West Bengal, by virtue of its various comparative advantages in sectors like Agriculture & allied sectors, can act as a major catalyst in this process of stronger India-Kenya economic relations. With these few observations, I will end my speech here and will now invite Shri Pranay Poddar, Hony. Consul of Kenya in Kolkata to share his experience and say a few words. Thank You.

No Comment
Leave a comment

Copyright © 2024 Punam Group