The Egyptian ministry of trade and industry said that president Abdel-Fattah El-Sisi signed an agreement with his Kenyan counterpart, Uhuru Kenyatta, to increase bilateral trade to $2 billion within the next two years. The bilateral trade between Egypt and Kenya currently amounted to $451 million in 2016, as per the data of the ministry of trade and industry (MTI).
The two presidents stressed the important of mutual cooperation, as both are members of the common market for Eastern and Southern Africa (COMESA). Kenya is the biggest non-Arab African partner to Egypt, as it dominates 24% of Egyptian exports to the members of COMESA.
Egyptian investments in Kenya totalled $19.4 million by the end of last year, according to the data of Kenya Investment Authority (KenInvest). On the other hand, Kenyan investments in Egypt reached $3.1 million by 2015, distributed over 20 companies with a total capital of $6.9 million, according to the Egyptian General Authority For Investment (GAFI).
