Kenya is keen to tap business and investment opportunities from the Comesa region, as it pushes to expand market opportunities for the private sector.
This comes as the government intensifies preparations to host the 24th COMESA Summit of Heads of State and government, scheduled for October 7th–9th in Nairobi.
“This summit, which Kenya is privileged to host, comes at a critical time when the trade landscape across the region is evolving. It offers an opportunity for African leaders to reflect on how the continent trades now and into the future,” said Regina Ombam, Principal Secretary for Trade.
The summit, which will bring together Heads of State and government, will be preceded by the business forum on October 7th and the Council of Ministers of Foreign Affairs Meeting on October 8th.
Speaking during a stakeholder breakfast meeting, PS Ombam emphasised that the summit will provide a vital platform for businesses to showcase their products through a public exhibition, while the business forum will feature thought leadership sessions and targeted networking opportunities for Business-to-Business (B2B) and Business-to-Government (B2G) engagements.
She further urged bilateral and multilateral partners, private sector players and public institutions to collaborate with the State Department of Trade, noting that the Comesa Summit is a milestone event aimed at advancing key regional trade objectives.
The summit comes at a time when COMESA is intensifying efforts to ramp up intra-African trade, currently standing at about 10 percent.
Under the Comesa Medium-Term Strategic Plan (MTSP), the bloc targets to raise intra-regional exports to 25 per cent of total exports by 2026, up from a baseline of 10 per cent in 2021.
Redirecting extra- Comesa trade within the region could potentially generate up to $100 billion (Sh12.9 trillion) in intra-regional trade.
“A strong, integrated Comesa is critical for sustainable economic growth, job creation and improved livelihoods. We must deepen our integration and strengthen trade ties within the region if we are to meet the ambitious targets outlined in our strategic plan,” PS Ombam added.
