Kenya National Chamber of Commerce and Industry and Brazilian Embassy officials headed by National Chairman Kiprono Kittony and First Secretary Paulo Zerbinati held talks on how to increase trade between Kenya and the South American giant.
The two groups discussed ways of increasing Kenyan exports to Brazil which have dropped to just $2.7M from $5.03M in 2016 as compared to increased imports of $272.74M up from #43.4M during the same period. Leading exports from Kenya to Brazil include: petroleum oils and oils, dyes and tanning extracts, tea and mate, crude animal materials, articles of apparel, wood manufacture and fish. Three products from Brazil accounted for about 82% of total imports including sugars, molasses and honey.
The Brazilian team confirmed they were in the country to collect information, understand the Kenyan market and seek business linkages. Already the team revealed a study was underway on the agriculture equipment market in Kenya as Brazilian companies eye the East African market with the report expected to be released in September this year.
On its part, KNCCI offered to facilitate the creation of a joint business council between the two countries, an inbound or outward trade mission and trade exhibitions for Brazilian companies in Kenya.
Among sectors that came under focus during the discussions included coffee, sugar, livestock, poultry, ICT and tourism.
KNCCI also confirmed to the Brazilian delegation of its support on the initiative to exchange trade and market information as it serves to promote the mutual interest between the two countries.