Iran, Kenya Explore Avenues of Mutual Economic Cooperation

Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) hosted a meeting with a Kenyan trade delegation on Wednesday to explore ways for expanding economic cooperation between the two countries, especially in the agricultural sector. The meeting was attended by ICCIMA Deputy Head for International Affair Mohammadreza Karbasi, and Caroline Gichuki, the founder and CEO of a renowned Kenyan agricultural company called Techfarm Travel Ltd. Speaking in the meeting the two sides pointed to barter trade, using the capacities of the local banks, overseas agriculture, and participation in joint exhibitions as ways for expanding the level of trade between the two countries.

Expressing satisfaction with the holding of such meetings as a way of paving the way for enhancing the level of cooperation between the two sides, Karbasian said: “Kenya is one of the most important economies in East Africa, and plays an important role in the region’s agriculture, fishing and fishery industries." “The economies of Iran and Kenya are complementary. Agriculture is Kenya's most important economic sector, and its major tea and coffee products are known around the world,” he said, adding: “Overseas agriculture, the establishment of conversion industries and joint activities in the livestock and meat sector, are good investment opportunities for Iranian businessmen in this country.”

The official expressed the Iranian private sector’s interest in investment in Kenya and noted that despite this willingness, the lack of infrastructures like banking relations and a direct flight line between the two countries is a major challenge in the way of the expansion of trade between the two countries. Karbasian put the two countries' trade in 2020 at US$57 million, noting that Iran exported US$50 million worth of goods to Kenya while importing US$7 million from the country in the mentioned year.

According to the official, Iran can meet Kenya's needs in the fields of oil derivatives and bitumen, petrochemical products, health tourism, medicine, and food; Kenya, on the other hand, can meet the needs of the Iranian market in the field of cocoa, coffee, tea, grains, as well as food and livestock products. - Tehran Times