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Diplomatic relations with Kenya were established in December 1963 while the two governments signed the first trade agreement in May 23, 1978.
From then on bilateral trade has grown steadily. In 1995, the US $ 100 million bilateral trade volume marked a new height, which reached US $ 133.35 million in 1997, with 132.35 million being China’s exports and 1.18 million of China imports from Kenya. In 1999, the total bilateral trade was worth US $ 105.53 million of which imported goods were worth US $ 100.61 million and exported goods worth US $ 4.92 million.
A second session of bilateral trade meeting of the two countries was held in Nairobi, in November 1985. However, so far no agreement for investment protection or prevention of dual duties has been reached between the two sides. But, trade between the two countries continues to grow reaching US $ 921 in 2007 with US $ 892.5 being China Exports and US $ 28.5 being Kenya Exports. The main imports by Kenya include electric machinery, textile, medicine, clothing, and shoes, tires, pottery, travel kits and bags while Kenya Exports are scrap metal, jute, leather, coffee, fruits and nuts.
According to the data from MOFTEC, a total of 18 projects (filed at and approved by the Ministry) were under implementation by in Kenya by the end of June, 1999 with the overall investment reaching US $ 12.524 million and of which US $ 9.09 million was from China. Currently, we have in Kenya more than 30 enterprises and institutions funded by Chinese capital, among which 3 communication companies like HUAWEI, ZHONGXING and CHENGUANG have already entered the market in Kenya.
In September 1997, upon the approval of MOFTEC, it was decided that Sichuan Provincial Imports Development Corporation was to undertake in Kenya " China Investment Development Trade Promotion Center" and would apply for 2 million dollars (16.5 million RMB) from the Central Fund for Foreign Trade for the project itself. The State Council in October 1998 rectified the application from the said corporation for the usage of 16.5 million RMB from the Central Fund. |