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State bets on new strategy to bridge import-export gap

The Government will soon roll out a national export strategy aimed at narrowing the gap between the country’s imports and exports.

During the year 2015, Kenya’s exports stood at Ksh581 billion against imports worth  Ksh1.5 trillion.

The Principal Secretary for Trade Dr Chris Kiptoo said in Nairobi that there was urgent need to diversify the various goods exported outside Kenya, besides expanding outside the traditional markets as one method bridging trade imbalance.

The PS said for a long, tea, coffee, horticulture and textiles had dominated Kenya’s export market, leaving out livestock and animals products, mining, fisheries, oil and gas industries, all which had great potential to enhance foreign income.

He was addressing a consultative meeting between officials from the Economic Commission for Africa and Ministry of Industrialisation and Trade Officials today.

The Cabinet had approved National Trade Policy which will soon be launched. The coordinator for African Trade Policy Centre at the ECA Mr David Luke said his organisation was willing to help Kenya with mapping and design on how to implement the trade policy.

He said many countries in the region shared common challenges, key among them being human and institutional capacity development.

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