Kenya and Pakistan drafting MoUs to increase bilateral trade

Kenya and Pakistan have ended a long-standing tariff war that hurt trade between the two countries. The two countries announced the removal of the 'Attestation Fee' that was charged by the Pakistan High Commission in Nairobi. This mainly hampered the tea trade. Calculated at 0.5 per cent of the entire export volume for the tea exporters from Kenya, it made Kenyan tea costlier when it landed in Pakistan compared to other teas.

“Today is an important day for Kenya and Pakistan with respect to bilateral trade between the two countries. Removal of Non-Tariff Barriers will open a new era for Kenyan tea exporters and Pakistan importers,” Pakistan High Commissioner Saqlain Syedah said.

Pakistan is the second top export destination for Kenya after Uganda, with trade between the two countries being in favour of Kenya. In 2020, Kenyan exports to Pakistan were valued at about $ 506 million (Sh55.6 billion ) against imports worth $199 million (Sh21.9 billion ).

Source: the-star.co.ke


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