Home Business Export Promotion Council (EPC) CEO Peter Biwott determined to deal with trade imbalances

Export Promotion Council (EPC) CEO Peter Biwott determined to deal with trade imbalances

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The Export Promotion Council (EPC) has moved to address trade imbalance between Kenya and Japan which is highly skewed in favour of the later.

In a press statement, the EPC indicate that Kenya’s current trade deficit with Japan stands at KSHs 78.3 billion against exports amounting KSHs 4.07 billion and KSHs 82.4 billion imported from Japan last year 2016.

Kenya’s overall trade imbalance stands at KSHs 996 billion and EPC is adopting a new strategy focusing on reaching out to key partners such as Japan External Trade Organisation (JETRO) to support efforts to rejuvenate export sector and forestall the widening imbalance.

EPC CEO Peter Biwott met with JETRO Nairobi Office Executive Director Atsuhiko Naoe to explore immediate actions Kenya can adopt to increase presence of Kenyan goods in Japanese market.

The council chief agreed with Mr Naoe to partner in enhancing Kenya Exports of food and beverage products to Japanese market.

Avocados have been profiled as products with best potential in Japan from Kenya. The two executives agreed to push for an agreement to allow imports of Avocados from Kenya devoid of quarters and duty restrictions by the Japanese Government.

Kenya has had a narrow range of products exported to Japan and hence, it calls for diversified export basket and deepening of existing product lines in order to break new ground in the Japanese market.

Other products earmarked for mainstreaming into the Japanese market include tea, coffee, edible nuts, sea foods among others.

JETRO proposed to collaborate with EPC to facilitate Kenya’s participation at the FOODEX Japan, an international food and beverages trade fair, scheduled for March 6th – 9th 2018. This will provide link to the Japanese market for participating Kenyan companies.

Other areas of collaboration with JETRO will include provision of market access information, capacity building and technical support.

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