The 10th India-Kenya Joint Trade Committee meeting took place in Nairobi, Kenya. The purpose was to review and strengthen trade and economic ties between the two nations. The meeting was co-chaired by Rajesh Agrawal from India and Regina Akotah Ombam from Kenya.
Both countries highlighted that their trade has been growing steadily over time. India is now one of Kenya’s main trading partners. In the last financial year, trade reached $4.31 billion, showing a 24.91% increase compared to the previous year. Discussions focused on expanding trade into new areas, addressing market access challenges, and exploring opportunities in sectors such as engineering, pharmaceuticals, agriculture, and electronics.
During the meeting, several Memorandums of Understanding (MoUs) were signed. One was between India’s Bureau of Indian Standards and Kenya’s Kenya Bureau of Standards. Another MoU was signed between India’s Central Board of Indirect Taxes and Customs and Kenya’s Revenue Authority.
Both countries also explored the possibility of settling trade using local currencies instead of foreign ones. They emphasized their commitment to a diverse, balanced, and forward-thinking economic partnership. They agreed to strengthen institutional structures to support trade, resolve any existing issues, and encourage business-to-business collaboration.