NAIROBI, KENYA, JUNE 7 ― Trade between Kenya and Poland has received a major boost in a renewed partnership between the two countries aimed at deepening bilateral economic cooperation.
Through its Polish Investment and Trade Agency-Kenya Office (Nairobi), Poland is targeting to double the value of trade turnover between the two countries in the next five years.
This is in collaboration with lead investment agencies in Kenya which includes the Kenya Investment Authority (KenInvest).
There is growing interest by Polish companies seeking to do business in and with Kenyans, The Polish Investment and Trade Agency-Nairobi confirmed.
Target areas include construction, e-health, food and agriculture and machinery, sectors Polish companies have thrived.
“We hope their exports dynamics to be faster and we encourage them to enter the Kenyan market bolder.Our objective is to double the value of the trade turnover and to register approximately 30 firms including Polish equity stake, within five years,”said Michael Mazurewicz, the head of the Polish Investment and Trade Agency trade office in Kenya,
The bureau, on May 22 organised the first Kenyan Investment Conference in Poland. The conference took place in Warsaw and gathered both Polish and Kenyan businessmen eager to either start on deepen their relationships.
The Kenya-Economic Survey 2018 released last month shows the value of imports to Kenya from Poland increased to USD$63.4 million (Ksh6.35 billion) last year from USD$60.1 million (Ksh6.02 billion) a year earlier.
Exports to Poland from Kenya were valued at US$22.1 million (Ksh2.21 billion) an increase fromUS$17.9 million (Ksh1.80 billion) in 2016.
At least 25 Polish companies have visited Kenya in the last eight months to scout for business opportunities which include establishing business partnerships with local companies.
Despite the trade surplus, the bilateral economic cooperation hides a great potential according to PAIH.
The support of Poland’s companies foreign expansion is included in the Responsible Development Strategy.
Poland opened the Polish Investment and Trade Agency office in Nairobi to deepen the trade ties.
“A fast developing country such as Kenya could be a prospective business partner for Polish companies. The Kenyan middle class has been growing tremendously and there have been needs that could be fulfilled by imported goods and services. This is the opportunity for Polish-Kenyan ties to flourish,” Mazurewicz’s said.
He pointed out Ndarugu Metropolis project in Kiambu County as one of the means to strengthen the economic cooperation.
Through investment in strategic infrastructure, the project seeks to establish a dynamic mixed-use development that will become a catalyst for the wider regeneration of the area.
“Polish companies could provide the Kenyan partners with essential machinery and technology. Furthermore, they could produce food and construction materials on site and sell it in the receptive market of East Africa,” Mazurewicz argued.
In his opinion,Tatu City Industrial Park could play a similar role.
A number of Polish companies have already cemented their position in Kenya with projects in different sectors among them milk and food processing.