Africa-Press – Kenya. Kenya and Cyprus have agreed to form a joint technical committee aimed at unlocking the untapped trade potential between the two countries.
The agreement was arrived at during a bilateral meeting held on the sidelines of the United Nations General Assembly (UNGA) in New York.
The meeting, held at Loews Regency Hotel, brought together Prime Cabinet Secretary and Foreign Affairs CS Musalia Mudavadi and Cyprus Foreign Minister Dr Constantinos Kombos, who also signed a Memorandum of Understanding (MoU) to deepen cooperation — particularly in trade and investment.
Mudavadi expressed concern over the stagnant trade volumes between the two countries, calling on both delegations to take bold steps to expand economic ties.
“Our trade numbers are very low on both sides. We all need to work hard on that front,” said Mudavadi, urging for more engagement between the two countries’ business communities.
Cyprus’ Foreign Minister Kombos echoed the sentiment, describing the trade figures as “depressing.”
“We need to engage the business communities. We should all highlight the opportunities and trust businessmen and women — they have an eye for opportunities,” he said.
In 2023, Kenya’s exports to Cyprus totalled $3.95 million (Sh580 million). The top products included fruit juice, cut flowers and processed fruits and nuts.
In contrast, Cyprus exported $2.46 million (Sh361 million) worth of goods to Kenya in 2023, mainly packed medicaments, computers and fruit juice.
Mudavadi highlighted Kenya’s unique position as a gateway to the East African Community (EAC) and the African Continental Free Trade Area (AfCFTA), presenting an open door for Cypriot investors looking to penetrate African markets.
“Cyprus’s strategic location in the Eastern Mediterranean and Kenya’s gateway position to the East and Central African market make us valuable partners,” said Mudavadi.
“Our markets may profit from Cyprus’ proficiency in shipping, tourism, and financial services.”
He also invited Cypriot businesses to explore Kenya’s growing sectors, including: Silicon Savannah (technology and innovation, renewable energy, agriculture and infrastructure development.
The formation of the joint technical committee is expected to lead efforts in identifying trade barriers, promoting investment, and enhancing people-to-people and institutional linkages between the two nations.
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