Sweden commits to increase trade with Kenya

The Swedish government is targeting tech startups, clean energy and Waste management as potential areas of investment in efforts geared towards bolstering trade ties with Kenya.

In a meeting with her Kenyan counterpart Ambassador Monica Juma, the Swedish Minister of Foreign Affairs Margot Wallstorm lauded Kenya’s improvement in the ease of doing business index terming it attractive to foreign direct investments.

A growing number of Swedish companies have established themselves in Kenya, among them Scania, SKF, TetraPak and Volvo.

According to the Swedish Minister of Foreign Affairs Margot Wallstorm, the current business environment is attractive to Swedish investors.

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As such the Swedish delegation has identified opportunities for further growth in the trade relations, especially in the fields of infrastructure, agriculture, ICT and renewable energy.

Sweden is banking on the vast human resource, and rapid uptake of technology to drive business. Wallstorm further urged the Kenyan government to intensify its fight against corruption that is steadily chipping away Kenya’s attractiveness to foreign direct investment.

Similarly, Sweden has pledged to support Kenya’s bid for a seat at the UN security council.

Export products from Sweden are telecommunication equipment, paper, machinery, manufactured products, medical equipment and vehicles while Kenya imports mainly of coffee, cut flowers, fruits and vegetables.

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