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Kenya Intends to Increase Its Exports to South Korea

Kenya Intends to Increase Its Exports to South Korea
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To match South Korea’s technology imports to Kenya, Kenya aims to enhance its exports of tea, avocados, and coffee to the Asian nation.

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“We must move from processing 5% of our tea to 50% in the next five years and in 10 years time we should be able to process every gram of tea grown in Kenya,” Ruto told a group of Kenyans living in South Korea earlier on Tuesday, November 22.

Kenya Intends to Increase Its Exports to South Korea
President William Ruto with the Speaker of the South Korean National Assembly Kim Jin-pyo

The president visited the country in an official capacity to attend a business forum to market Kenya as a suitable investment destination for foreign investors.

 It is the second official visit to South Korea by a Kenyan head of state since 1990 when former president Daniel Moi travelled there on a state visit.

Kenya and South Korea signed a bilateral agreement at Yongsan Presidential Office, in Seoul, South Korea.

Read also:Kenya Receives 25,000 Metric Tonnes of Wheat From Ukraine

The visit is also expected to open up job opportunities for tech-savvy youth in both countries.

Earlier on Wednesday, he told the Korean Speaker of parliament that local legislators need to enact laws to “fix the trade imbalance” with Kenya.

Ruto has also managed to secure Sh120bn from South Korea to support various development projects.

Uganda Yoweri Museveni arrived a day after Ruto in Vietnam. The two heads of state were invited separately by their hosts.

Kenya is keen on expanding economic ties with the East Asian nation and exploring areas of cooperation, especially in ICT, education, pharmaceutical, and infrastructure.

The trip happened just two weeks after Tanzanian President Samia Suluhu Hassan visited Beijing after which China forgave part of her country’s debt worth $13.7 million.

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