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Kenya, South Korea sign deal to bolster trade



Kenya and South Korea business organisations have signed a partnership agreement to fast track trade and investment.

The deal was signed by the Kenya National Chamber of Commerce and Industry (KNCCI) and the Korea Institute of Procurement and South Korea’s SDG Youth.

They agreed to pursue development oriented policies that support job creation, entrepreneurship, creativity, innovation and encourage the growth of Micro, Small and Medium Enterprises (MSMEs).

The agreement also seeks to promote effective Public-Private Partnerships and address youth unemployment.

While speaking during a business forum aimed at unlocking trade and investment in Seoul South Korea, President William Ruto said that Kenya has created an enabling environment to attract investors.

He welcomed the South Korea business community to invest in major projects in transport, infrastructure, agriculture, health and ICT in the country.

“Kenya has put in place laws to facilitate Public-Private partnerships. We have tremendous human talent. You can get any skill you need,” Ruto said.

The organisations also agreed to prioritise investments that will fast track the realisation of the United Nations (UN) 2030 Agenda for Sustainable Development.