Chinese, British, Kenyan business organizations sign MoU

The Kenya China Economic and Trade Association, British Chamber of Commerce Kenya and Kenya Private Sector Alliance on Thursday signed a memorandum of understanding (MoU) to strengthen their commercial cooperation in Kenya.

The MoU will provide a framework and facilitate cooperation among the parties in promoting commercial relations between companies from Kenya, China and the UK.

It will nurture, deepen and strengthen the framework of collaboration and cooperation on agreed projects and activities between the parties.

The MoU will facilitate the establishment of areas of common interest and foster cooperation and collaboration as well as create efficient means of communication in order to support the successful implementation of activities that advance cooperation between companies from the three countries.

Wu Peng, Chinese ambassador to Kenya, said the idea behind the MoU, was to establish a platform for the private sector to contribute to Kenya's economic growth.

Wu thanked companies from different countries for their efforts to help Kenya to develop its infrastructure and called on all enterprises to work in partnership to realize win-win cooperation with all stakeholders.

"Through the new MoU, I believe you can achieve more tangible results in the near future. I'm also expecting more stakeholders to sign agreements in multilateral cooperation so that we can make our contribution in realization of the Kenya's dream," he said.

Wu praised Kenya for the ongoing development of special economic zones, saying that's how China was able to develop fast. He added that more jobs for the Kenyan youth can be created through manufacturing.