Industry and Trade Minister Mounir Fakhri Abdel Nour
Cairo - MENA
In a meeting with Kenyan officials Monday, Industry and Trade Minister Mounir Fakhri Abdel Nour discussed ways to double the volume of trade exchange to reach one billion dollars in two years.
The current volume of trade exchange stands at 500 million dollars, with Egypt's exports to Kenya totalling 300 million, Abdel Nour said in statements on the sidelines of the sixth round of joint committee meetings currently taking place in Nairobi.
Egypt's chemicals and fertilizers sectors have a very good chance in Kenya, the minister said, stressing that the Kenyan economy is promising.
He pointed to an annual 5-percent economic growth rate in Kenya.
Abdel Nour also talked about coordination between the two African countries at the level of the COMESA.
Abdel Nour is scheduled to meet with the Kenyan trade minister during the visit.
He said he will propose establishing a joint trade committee as requested by Nairobi in 2010. The committee should solve commercial disputes and act to boost economic and investment relations between Cairo and Nairobi.