Inside Politics

Uhuru calls for increased deals between Kenyan and US small enterprises

Thursday, May 20th, 2021 00:00 |
President Uhuru Kenyatta. Photo/PSCU

President Uhuru Kenyatta has called for more partnerships between Kenyan and American Small and Medium Enterprises (SMEs) to help unlock the huge trade potential between the two nations.

The head of State invited American SMEs to invest more in the country by entering into mutually beneficial arrangements with their local counterparts, adding that the enterprises are the backbone of Kenya’s vibrant economy.

“This is where the real opportunity lies. This is not to say that we are telling the big boys not to come in, they are already here. The big corporates are already here,” Uhuru said. 

He, however, noted that the big boys don’t have the capacity to propel inclusive growth as the SMEs that have a much greater capacity of affecting lives and changing the livelihoods at the grassroots level.

The head of State spoke Tuesday during a virtual meeting with the US Chamber of Commerce Global Leaders’ Forum on Economic Recovery.

Uhuru said Kenya is keen on concluding negotiations for the free trade agreement with the US, and underscored the importance of the private sector in Kenya’s economic growth and job creation.

He invited American enterprises to set shop in Kenya, saying the country provides a ready market for US products, and has an expanding economy supported by an innovative and highly skilled young labour force that is ready to absorb American investments and technology.

“I believe this is a mutually beneficial relationship that offers investment opportunities with great returns for American companies while at the same time offering job opportunities to Kenyans,” the President said.

US Chamber of Commerce Executive Vice President Myron Brilliant assured the head of State of his association’s full backing of the Kenya-US free trade agreement negotiations and the country’s Covid-19 containment efforts.

“We also support Kenya in combating the pandemic (Covid-19, and support your efforts in enhancing trade and investment opportunities,” he said.  

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