Mauritius Economic Development Board (EDB) Chairman Mr. Hemraj Ramnial CSK, paid a courtesy visit to the Chamber leadership ahead of the Kenya-Mauritius Business & Investment Forum to be held on the 13th and 14th October 2022 at Mercure Nairobi Hotel (formerly Crowne Plaza Hotel), Upper Hill, Nairobi. Mr. Hemraj and the EDB team were received by the Chamber President Mr. Richard Ngatia and KNCCI Board of Directors.
The discussions emphasized the importance of exchanging trade information and jointly hosting trade missions and exhibitions to establish new potential market and create joint ventures. Opportunities were highlighted in: Agriculture, Manufacturing, Information and Communication Technology, Banking and Finance, Tourism, Infrastructure, Building and Construction, Blue Economy and the Orange Economy (Textile and Leather).
Kenya and Mauritius maintain a cordial trade relationship having established a Joint Commission Council mandated to enhance trade between the two countries. The total trade between the two countries amounts to USD 69.46 million in 2021, with the balance of trade in favor of Mauritius. Mauritius is among top African investors in Kenya, mostly in financial services and the sugar sector. The Double Tax Treaty signed in 2019 and ratified by Kenya in 2020 creates a legal framework for use by the Revenue Authorities in both counties for the avoidance of double taxation. A Memorandum of Understanding exists between the two national standards bodies for cooperation in standardization and related activities with a view to eliminating technical barriers to trade.
KNCCI and EDB will jointly establish a Joint Business Council to oversee implementation of trade and investment objectives as envisioned by both Countries.