Nairobi – Cabinet Secretary for Investments, Trade, and Industry, Rebecca Miano, is slated to attend the 2023 G7 Trade Ministers’ Summit on October 28th in Osaka, Japan. The summit serves as a forum for global leaders to discuss the advancement of open trade and resilient supply chains.
According to a new release by Kenya News Agency, Kenya sees the summit as an opportunity to fortify its diplomatic and trade relationships with major global stakeholders, including Japan. “Kenya is committed to creating an equitable trade landscape that benefits both Kenya and Japan, as it will strengthen our longstanding diplomatic ties,” Miano said.
The Cabinet Secretary also noted that Japan extended the invitation in recognition of Kenya’s significant role in the African economic landscape. During the summit, Miano is expected to issue a joint communiqué with Mr. Nishimura Yasutoshi, the Minister of Economy, Trade, and Industry of Japan. The communiqué will focus on establishing an Industrial Policy Dialogue between Kenya and Japan.
Additionally, Miano will participate in the Japan-Kenya Business Round Table on October 27th, 2023. The event, which will feature at least 100 Japanese businesspeople, aims to deepen mutual understanding of business activities in Kenya and set the stage for future investments and collaborations.
Miano revealed plans to encourage Japanese investors to establish operations in Kenya, citing the benefits of market access to the East African Community, the African Continental Free Trade Area (AfCFTA), and the European Union. She also discussed Kenya’s initiative to scale up local content production in the automotive industry, highlighting that 34 parts have already been considered for production. According to the Cabinet Secretary, these initiatives could increase Kenya’s share of manufactured goods to Gross Domestic Product, create employment, and raise government revenue through taxes.