Kenya Chamber President fronts more UK, South America trade

Kenya's business community is aiming to double trade ties with South America from the current $60 million in an effort to reduce reliance on traditional export markets. Richard Ngatia, the President of the Kenya National Chamber of Commerce, recently sat down for an exclusive interview with CNBC Africa to discuss the chamber's focus on fostering increased trade and investment between Kenya and the United Kingdom. The delegation from the Kenya National Chamber of Commerce and Industry is particularly interested in enhancing trade in sectors such as tourism, energy, manufacturing, and development cooperation with the United Kingdom. Ngatia emphasized the potential for collaboration and investment in Kenya's renewable energy sector, which includes geothermal, wind, and solar energy. Additionally, the chamber is exploring opportunities in the tourism sector to promote Kenya as a popular tourist destination known for its wildlife, beaches, and cultural attractions. Key points from the interview include the chamber's interest in boosting exports to South America, where the current total trade volume between Kenya and the continent is relatively small, with exports from Kenya amounting to $60 million and imports from South America totaling $150 million. Ngatia highlighted the potential for growth in sectors such as agriculture, fintech, and e-commerce, signaling Kenya's intention to diversify its export markets. The chamber is also working towards establishing direct flights between Kenya and Bogota to facilitate trade and reduce export costs to South America. Furthermore, Ngatia expressed support for the African Continental Free Trade Area (AfCFTA), believing it will expand trade and investment opportunities for African countries. The chamber is actively engaging with the government to identify ways to support Kenyan businesses looking to export, advocating for infrastructure investment and policy development to enhance trade efficiency and address non-tariff barriers. Collaboration and dialogue between the public and private sectors are key priorities for the chamber to promote trade and investment. Ngatia also emphasized the importance of compliance with regulations and standards to overcome trade barriers. In conclusion, the chamber is exploring partnerships and collaborations at the forum, aiming to enhance trade relations with the UK and South America through wealth of deals and memorandums of understanding (MOUs).