The Forum brought together during the two-day event in Nairobi (Feb. 21-22, 2023) high-level officials from the EU and the Kenyan government. Political and technical figures attended the summit, including the Directorates General for International Partnerships and Trade.
The EU is the main export destination for Kenyan products and the third largest source of imports. Kenyans ship flowers and agricultural products to Europe and buy a wide range of manufactured goods from Europeans. However, the total potential trade value between the EU and Kenya is estimated at more than €500 million more per year than the actual trade value.
Kenya and the EU are key economic partners. EU investment accounts for more than 30 percent of Kenya’s total FDI and can be increased. Kenya’s strong growth prospects are supported by an emerging middle class and a growing appetite for the high-value goods and services offered by European companies.
The EU-Kenya Business Forum aims to promote European trade and investment in Kenya by highlighting economic opportunities and potential and discussing areas for improvement. The event will promote Kenya as a business destination and identify trade and investment opportunities for job creation and sustainable, diversified growth. In line with its strategic vision, the EU and its member states, as key partners, are committed to supporting the formulation and implementation of reforms geared toward sustainable economic diversification of the Kenyan economy.
The EU-Kenya Business Forum was the first of its kind. It is an outcome of the EU-Kenya Strategic Dialogue to market Kenya’s trade and investment potential, highlighting key successes and opportunities as well as remaining challenges. Held in Nairobi in February 2023, it provides a platform for direct interaction between companies and between companies and policymakers.
The Business Forum is jointly organized by the EU and its member states in cooperation with the European Business Council and the Kenya Private Sector Alliance. The event provided insights into key EU-Kenya business issues, reports such as circular economy, agriculture, green energy, ICT and other infrastructure. Specific panels will illustrate business cases and opportunities.
The forum brought together representatives from the EU and the Kenyan government, investors, business support organizations and financial institutions to concretely discuss trade and investment opportunities and challenges.
The event is organized in the spirit of a European team that includes representations from the 27 EU member states and businesses. On the Kenyan side, officials from key government departments and agencies and business support organizations are present.
A special role has been assigned to financial institutions that can help businesses in Kenya and Europe. Finally, and most importantly, businesses already established in Kenya and potential exporters and investors are the focus of all Business Forum activities.