Kenya, South Africa Seek to Boost Trade Through New Agreements, Say Presidents Ruto and Ramaphosa
President William Ruto says Kenya and South Africa will leverage regional and continental trade frameworks to unlock new investment opportunities, strengthen value chains and accelerate economic growth across Africa.
Kenya and South Africa have pledged to deepen trade and investment ties through new agreements aimed at boosting economic growth, regional integration and cross-border business opportunities. Photo/Courtesy
By Ruth Sang
Kenya and South Africa have reaffirmed their commitment to strengthening bilateral trade and investment ties, with leaders from both countries noting that while economic relations are already strong, significant untapped opportunities still exist.
Speaking at the Kenya-South Africa Joint Business Forum in Midrand, Johannesburg, President William Ruto said the agreements signed between the two nations will help align regulations and standards, enhance regional and continental integration, improve infrastructure, and strengthen value chains.
“Kenya-South Africa trade relations are strong and continue to grow, but there is still much work to be done and many opportunities yet to be unlocked,” President Ruto said.
He noted that South Africa’s position as a manufacturing and financial hub in Southern Africa complements Kenya’s role as a gateway to East and Central Africa, creating substantial opportunities for businesses in both countries.
“The complementarity between our economies presents enormous potential for trade, investment and economic cooperation,” he added.
President Ruto further stated that Kenya and South Africa have agreed to maximize the benefits of regional economic blocs, including the East African Community, Southern African Development Community and Common Market for Eastern and Southern Africa, as well as the African Continental Free Trade Area.
According to the President, leveraging these regional and continental platforms will help accelerate economic growth and expand market access across Africa.
Together with South African President Cyril Ramaphosa, Ruto addressed business leaders at the forum and expressed optimism about the growing interest among companies seeking to expand operations across African borders.
“I am encouraged by the readiness of many companies to invest and expand beyond their national markets, a move that will deepen economic integration and create new opportunities across the continent,” he said.
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