The KNCCI leadership led by the Chamber President Mr. Richard Ngatia, Chamber 2nd Vice President Ms. Fatma Elmaawy , KNCCI Director North Eastern Mr.Omarsadik and the Secretariat Management team had both a physical and virtual meeting with the Algerian Ambassador to Kenya H.E Selma Malika Haddadi and Minister of Foreign Affairs, Director Economic Diplomacy Fredrick Matwanga.
The bilateral discussion was based on a Memorandum of Understanding between the Algerian Chamber of Commerce and Kenya National Chamber of Commerce & Industry(KNCCI).
The Mou between the two chambers entails the following;
- Improve bilateral trade relationship; promote the exchange of key companies from both sides.
- Support and expand the development of commercial and economic ties and strengthen cooperation
- The parties further agreed to exchange trade, technical and economic delegations for economic and commercial relations, and collaborations.
- Promote Foreign Direct Investments in both countries and use Kenya as a gateway to the region to connect with the rest of Africa to support the AFCTA.
- Both parties agreed to establish a Joint Business Council that will provide a collective bilateral relationship and collaboration for the private sector to have a common front to address the economic transformation goals of both countries.
- The council will work to ensure and support companies on both sides to increase the volume of trade exchange and investments.
In conclusion, to fast-track, this agreement and partnership, The Algerian Chamber of Commerce agreed to provide office space for the Kenya Chamber of Commerce in Algiers.