China Encourages Enterprisesto Invest In Kenya

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Last updated at: (Beijing Time) Wednesday, September 10, 2003

China Encourages Enterprisesto Invest In Kenya

Chinese senior trade official said Tuesday that China encourages enterprises to invest in Kenya, a major country in Africa, to promote bilateral trade and economic cooperation.

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Chinese senior trade official said Tuesday that China encourages enterprises to invest in Kenya, a major country in Africa, to promote bilateral trade and economic cooperation.

Chinese Vice Minister of Commerce Wei Jianguo said while meeting with visiting Kenyan Foreign Minister Stephen Kalonzo Musyoka that the two sides share a long-term friendship and bilateral economic ties developed smoothly.

China encourages qualified enterprises to invest in Kenya, especially in the assembling and producing of electronic home appliances, agricultural machinery and small machinery and electronic products, Wei said.

Kenya, member of the Common Market for Eastern and Southern Africa, have cutting-edge in transportation and potential market scale, Wei said.

That indicated huge potential for bilateral trade and investment with China, Wei added, noting infrastructure construction is a major alternative.

Musyoka thanked China for its aid and support in regional and international affairs to Kenya, saying Kenya invites more Chinese enterprises to invest in the country.

Chinese Customs figures show that China-Keyna trade increased by 34.4 percent year-on-year in the first seven months of 2003 to 127 million US dollars and China's imports from Kenya nearly doubled year-on-year.

By June, 2003, Chinese enterprises' investment in Kenya amounted to 22.8 million US dollars, statistics from the Ministry of Commerce show.

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