New business opportunities arise in Kenya for Turkish investors
Oct 29, 2010 - 12:00 am GMT+3
by Oct 29, 2010 12:00 am
The Turkey-Kenya Joint Economic Committee, co-chaired by Minister of Labor and Social Security Ömer Dinçer, has created new business opportunities between the two countries.
During a visit to Kenya, Dinçer met with several ministers from the Kenyan government. Turkish and Kenyan officials signed a number of agreements on tourism, cultural exchange, education, media, sports, agriculture, and science and technology.
According to these agreements, Türk Eximbank will provide a $50 million loan to the Kenyan Development Bank. The loan, to be secured under the guarantee of the Kenyan state, will be used for imports from Turkey, allowing Turkish investors to enter the Kenyan market. Moreover, the Turkish Undersecretariat for Maritime Affairs will lend educational support to Kenyan merchant marines, under which project 10 Kenyan merchant marines will be provided with internships to pursue an education in Turkey. The Turkish Undersecretariat for Foreign Trade will also educate Kenyan foreign trade officials who will be posted in third countries.