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Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.

 

New accord to boost trade between Kenya and Egypt

Thursday, February 23, 2017 > 09:46:34
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www.bizcommunity.com

Kenya and Egypt have agreed to remove double taxation on imports in a bid to improve trade between the two countries.

President Uhuru Kenyatta made the announcement after hosting his Egyptian counterpart Abdel Fatah Al-Sisi on Sunday at State House.

The talks here were highly punctuated by need to boost economic relations.

"We have agreed to fast-track and conclude our bilateral agreement on double taxation before the end of this year," President Kenyatta said.

The decision means that goods from either countries will only be subjected to import duty.

President Kenyatta said this will boost tea exports to Egypt, for example, which used to be Kenya's second largest importer, before the Arab Spring in 2011.

The two leaders also vowed to cooperate on the use of the Nile, a sticking issue between Egypt and riparian countries of the world's longest river.

It was the first visit by a sitting Egyptian head of state.


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