Kenya and Indonesia Seal 4 Trade MoUs
Following bilateral talks between President Joko Widodo and his host William Ruto at State House, Nairobi, Kenya signed four Memoranda of Understanding (MOUs) with Indonesia on Monday.
The two leaders discussed trade and investment, as well as collaboration in higher education, fundamental education, and vaccine development, according to a communiqué issued by President Ruto.
The first Energy Cooperation Memorandum of Understanding will facilitate investment in geothermal energy, transmission, and distribution of generated power.
Kenya and the Southeast Asian nation also signed a Mining and Geology Cooperation Agreement, which will entail joint studies, knowledge sharing, and capacity building.
“Our two nations have also concluded an MOU between the Kenya Pharmacy and Poisons Board and the Indonesia Food and Drug Authority, which will facilitate the strengthening, promotion, development, and implementation of regulatory cooperation in pharmaceutical products,” President Ruto said at a press conference following the meeting.
Nairobi and Jakarta also signed a memorandum of understanding that establishes a framework for cooperation between Kenya Biovax and Indonesia’s BioFarma in the areas of technology transfer, contract manufacturing, registration, supply, and marketing of BioFarma’s vaccine portfolio that will be manufactured in the Republic of Kenya.
In addition, President Ruto announced that they had signed a Letter of Intent to strengthen their collaboration in promoting investment flows between Kenya and Indonesia.
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“Our respective ministers will continue bilateral discussions to conclude additional cooperation frameworks in agriculture, education, and other areas,” he added.
In addition, additional agreements were signed in the sectors of oil and gas, pharmaceuticals, consumable oils, and agriculture, including exports of livestock, and apparel manufacturing.
“We have also discussed the significance of entering into a Bilateral Investment Treaty that will provide a stable and predictable investment environment, a prerequisite for accelerated Private Secretor Investment. Ruto stated, “We have tasked our joint teams to complete the drafting of this instrument within the next ninety days.”
Concurrently, Kenya agreed to negotiate a preferential Trade Agreement with Indonesia. The agreement will comply with East African Community (EAC) and continental trade regulations, according to President Ruto.
President Widodo’s visit followed Kenyan trade minister Moses Kuria’s trip to Indonesia in May, where he met with a delegation to explore commercial partnerships between the two countries.
Among the agreements reached at that time was the finalization of a resolution that will result in Kenya exporting 700,000 cattle annually to Indonesia beginning this year.
Kuria and Ir Nasrullah, the General Director of Indonesia Animal Production and Animal Health, agreed to begin transporting the cattle by August.
Kenya and Indonesia Seal 4 Trade MoUs
