The Korea Trade-Investment Promotion Agency (KOTRA) signed an MoU with Kenya Investment Authority (KenInvest) to ramp up Korea-Kenya investment ties on May 31 at InterContinental Nairobi, KOTRA said on June 1.
The two sides agreed to exchange economic and investment information, carry out joint studies, jointly push for cooperation projects, facilitate investment, share knowhow on attracting investment and exchange professional personnel.
Yoon Won-seok, head of KOTRA’s Economic Diplomacy Support Center, signed an MoU with Chairman Manish Shah of Creative Innovations, the distribution arm of the Kingsway Group, therefore laying the groundwork for S. Korea to ship consumers goods to Africa.
Kenya is a member of the East African Community (EAC) and the largest economy in Africa.
KOTRA CEO Kim Jae-hong said: “Kenya is an important beachhead from which we can advance into other East African countries, so the country is an investment-worthy destination. Under the MoU, we will strategically cooperate with KenInvest to help Korean companies enter Ease Africa.”
