Kenya and the United Kingdom have signed a Memorandum of Understanding to promote market access and business integrity.
The MOU was signed by the Ministry of Investments Trade and Industry (MITI) and the British Chamber of Commerce Kenya (BCCK).
The MOU provides continuity to the long-term business integrity initiative that provides guidance for doing business, manages the integrity index and promotes Kenya as a trusted UK trading partner.
The UK Prime Minister's Trade Envoy, Theo Clarke MP witnessed the signing of the MOU.
The MOU enables MITI and BCCK to identify and recommend areas for reform in Kenya's business regulatory environment.
Through this MOU, both organisations will be knowledge partners who will be feeding back to government data and insights around integrity issues impacting trade and investment.
The MoU will be operationalised through an engagement programme between key public sector bodies including KRA, KEBS, Customs, EACC, the Judiciary and the private sector.
Speaking at the signing event, PS Abubakar Hassan Abubakar for Investment said the MOU provides a framework for developing targeted strategies to build trust with our international trade partners.
"Ethical business conduct and adhering to fair trade practices are key to attracting international investors, helping drive Kenya's economic transformation," he said.
The continued collaboration between BCCK and the Ministry's Department of Business Reforms and Transformation (DBRT), will provide guidance on doing business, managing the Business Integrity Index, support peer-to-peer networking and promote Kenya as a trusted trading partner for the UK.
"By promoting integrity in partnership with the Government of Kenya, we are creating a favourable environment for trade and investments. I was delighted to attend the launch of the Business Integrity Initiative in 2019, and the recent legislation shows continued commitment to deepening our economic relationship," Theo Clarke said.
BCCK chairperson Sonal Tejpar said the Chamber and members are committed to working with Kenyan authorities to improve the trade landscape.
"Through the Business Integrity Initiative, we have built a good understanding of what it takes to build confidence among trade partners. The DBRT team has a strong mandate to bring all arms of government together to reduce trade barriers. We're excited about what we can do together under this MOU," she said.
Clarke, who is on a three-day visit to Kenya, also visited Nairobi Railway City, alongside Managing Director of Kenya Railways Philip Mainga.
The project is part of the Sh500 billion green infrastructure projects President William Ruto and Prime Minister Rishi Sunak agreed to fast-track in November 2022.
She will also meet Kenyan women in business in a knowledge-sharing platform that will offer practical insights to enhance their leadership skills and resilience.