NAIROBI – The Kenya National Chamber of Commerce and Industry on Wednesday announced the opening of a new branch in Changsha, China.Â
The expansion, KNCCI said, marks a significant milestone in its history and shows commitment to fostering stronger trade and investment ties between Kenya and China.Â
“The newly established China Branch Office will play a pivotal role in promoting collaboration, facilitating business partnerships, and displaying Kenyan products and services in the vibrant Chinese market,” KNCCI chief executive Patrick Nyangweso said at the Panafric Sarova Hotel in Nairobi on Wednesday.
Nyangweso noted that KNCCI is eying to have more branches in Guangdong, Sharjah and Ghana
Chief Representative for KNCCI China Branch Fredrick Mukilya said the office will play a critical function in facilitating trade and investment, attract more investments, promote visibility and awareness of Kenyan products and ensure protection of businesses through arbitration.
The office will also give businesses confidence to work with China, Mukilya said. Â
The announcement came days to President William Ruto’s official visit to China, where he will attend the Belt and Road Initiative from October 17-18 in Beijing.
The President is also expected to hold bilateral talks with his host, president Xi Jinping and trade and investments are expected to feature.
KNCCI president Dr. Erick Rutto said the expansion into China is a strategic move aimed at advancing economic cooperation between Kenya and one of the world’s largest economies”.
“We are confident that our presence in China will open up new opportunities for Kenyan businesses and entrepreneurs and contribute to the growth of our nation’s economy,” Rutto said.
Additionally, the new office will enable KNCCI to identify business opportunities, particularly in the export of meat and meat products, a sector that remains largely untapped.Â
The Chamber further noted China has remained Africa’s largest trading partner for 14 consecutive years, and in 2021, it extended a zero-tariff treatment to 98% tax items, which promotes exports.Â
Zhang Yijun, Minister Counsellor at China Embassy in Nairobi, congratulated KNCCI on the move and affirmed the mission’s dedication to enhancing trade between the two nations.
The branch was sponsored by DTB bank, while the office space was provided by the Chinese government.
