Kenya and Czech Republic to forge stronger economic ties
The Czech Republic, situated in Central Europe and boasting a population of 10.7 million people and a GDP of USD40,700, is known for its robust exports of cars, vehicle parts, and broadcasting equipment. Diplomatic ties between Kenya and the Czech Republic were established in 1993.
In a significant development following Czech Prime Minister Petr Fiala's recent visit to Kenya, the Czech Republic announced its intention on the 7th of November 2023 to bolster economic relations with Kenya by setting up a business hub within the country. This decision was reached during a bilateral discussion in Nairobi, Kenya's capital, between Prime Minister Fiala and President William Ruto of Kenya.
The Czech Republic, situated in Central Europe and boasting a population of 10.7 million people and a GDP of USD40,700, is known for its robust exports of cars, vehicle parts, and broadcasting equipment. Diplomatic ties between Kenya and the Czech Republic were established in 1993.
The bilateral talks marked a historic occasion, representing the first visit by a Czech Republic head of government to Kenya since the establishment of diplomatic relations between the two countries.
President Ruto warmly welcomed and expressed gratitude to Prime Minister Fiala for his visit, underlining the significance of fortifying the ties between the two nations.
During the discussions, President Ruto underscored Kenya's welcoming stance towards the Czech Republic in its thriving markets, including the expansive East African market comprising over 400 million individuals, the Tripartite Free Trade Area with a 750 million consumer base, and the extensive African Continental Free Trade Area catering to 1.4 billion potential consumers.
Ruto highlighted Kenya's standing as an appealing investment destination in both Africa and the broader region. He further emphasized the government's proactive efforts to facilitate trade and investments through streamlined processes, tax incentives, and an improved regulatory framework.
In a joint press release, Prime Minister Fiala acknowledged the strong bilateral relations between the two nations, particularly in the realms of security and defense cooperation. The leaders identified numerous promising avenues for collaboration, including the development of geothermal energy, information technology, scientific research, healthcare, and agriculture.
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