The United Kingdom and Kenya have signed a memorandum of understanding (MoU) for two-way swopping of key information to promote integrity in Kenya’s and the UK’s legal framework to promote trade.
It was concluded between Kenya’s Ministry of Investments, Trade and Industry (MITI) and the British Chamber of Commerce (BCCK).
In terms of the MoU, both organisations will be knowledge partners and will feed back government data and insights around integrity in business issues that impact trade and investment in the two countries.
The MoU, which was witnessed by the UK prime minister's trade envoy Theo Clarke, enables MITI and BCCK to identify and recommend areas for reform in Kenya's business regulatory environment.
"By promoting integrity, in partnership with the Government of Kenya, we are creating a favourable environment for trade and investments," Clarke said.
The project is part of green infrastructure projects worth 500 billion Kenyan shillings that President William Ruto and UK Prime Minister Rishi Sunak agreed to fast-track in November 2022.
"The Chamber and our members are committed to working with Kenyan authorities to improve the trade landscape,” BCCk chairperson Sonal Tejpar said.
“The business integrity initiative builds a good understanding of what it takes to foster confidence among trade partners.”
