Kenya's business community seeks to learn from Chinese post COVID-19 economic rebound
Kenya's business community is seeking to learn from the experience of Chinese entrepreneurs in their post-COVID-19 economic rebound, a trade lobby said on Tuesday.
Erick Rutto, vice president, Kenya National Chamber of Commerce and Industry (KNCCI), told Xinhua in Nairobi that Chinese businesses were able to keep their supply chain for raw materials and finished goods open during the height of the pandemic.
"We want China to share with us how they were able to handle logistics and resume economic activity so that we can apply the lessons," Rutto said on the sidelines of an agreement between KNCCI and Equity Bank to provide post-COVID-19 financial support to businesses.
Rutto noted that early this year, the business community suffered an economic slowdown as access to raw materials as well as consumer demand for products was affected by the government restrictions put in place to curb the spread of COVID-19.
He added that Kenya's economy is very dependent on China as a source of goods as well as a lucrative market.
KNCCI said that it maintains a cordial relationship with business organizations in China in order to boost Sino-Kenya trade.
"We have already signed several agreements with a number of business membership organizations in China," Rutto added.
He noted that before the outbreak of COVID-19, Chinese business organizations played a key role in Kenya's development through providing capacity building on modern industrial technology.
He observed that Kenya is keen to acquire business information in terms of market access in the Asian nation for products such as avocados, flowers, coffee, tea and nuts where the country has a competitive advantage.
"We want to rapidly increase our exports to China because it is currently the second-largest economy in the world with huge purchasing power for Kenyan goods," he revealed.
The business noted that the Asian nation remains a preferred trade partner because Kenya has products that are required by Chinese consumers. Enditem