India, Kenya target bilateral trade of $ 2.5 billion by 2012-13
16 Oct 2010
India and Kenya have set a target of raising bilateral trade from the 2009-10 level of $1.5 billion to $2.5 billion by the financial year 2012-13. The two countries have also identified steps for achieving this objective, commerce and industry minister Anand Sharma said at a meeting of the India-East Africa Joint Trade Committee in Nirobi on Thursday.
The 6th India-Kenya JTC meeting, held in Nairobi early this week, identified agriculture, including agro-processing, drugs and pharmaceuticals, infrastructure development like roads, rail, and energy as also generation, transmission and distribution of power, airports, information and communication technology (ICT), oil and gas, manufacturing and healthcare as the key sectors for bilateral cooperation.
India, Sharma pointed out, has offered to collaborate in Kenya's efforts to revive its textiles sector by providing technical assistance in skill building for the entire value chain, transfer of technology in ginning and processing, collaboration with Indian Textiles Research Association and exploratory visits for businessmen and buyer-seller meets. The textile sector accounts for 30 per cent of the country's industrial workforce.
The JTC also took note of India's offer of a $61.6 million line of credit to Kenya for building 'power transmission lines', which would help augment Kenya's infrastructure.
The Kenyan side appreciated India's concerns on the Kenyan Anti-Counterfeit Act and stated that the Act would address legitimate Indian trade concerns in this regard.
India and Kenya have agreed on greater engagement between the 'Kenya Investment Authority' and 'InvestIndia', which would help in trade and investment flows between the two countries, Sharma said.
