NAIROBI, Kenya, Oct 7 – Kenya is ramping up efforts to expand market volumes within the East African Community (EAC) region, with a strong focus on boosting micro, small, and medium enterprises (MSMEs).
Speaking at the unveiling of the National Organizing Committee for the 24th EAC MSME Trade Fair, Cooperatives and MSMEs Development Cabinet Secretary Wycliffe Oparanya emphasized the significance of the trade fair in unlocking market opportunities for Kenyan MSMEs.
Oparanya highlighted that the EAC, now home to approximately 300 million people and a combined gross domestic product (GDP) of $312 billion, offers immense potential for regional integration and trade.
The recent addition of the Democratic Republic of the Congo (DRC) and Somalia to the EAC has further strengthened intra-regional trade ties, broadening access to new markets.
“The EAC region now stretches from the Indian Ocean to the Atlantic Ocean, making it more competitive and strategically positioned to access the larger African Continental Free Trade Area (AfCFTA),” he said.
He pointed out that Kenya, due to its logistical advantages, is well-positioned to supply a wide range of goods, including food, machinery, building materials, pharmaceuticals, and consumer goods.
The upcoming EAC MSME Trade Fair, scheduled from October 26 to November 5 in Juba, South Sudan, will bring together 15,000 MSME exhibitors from the region.
Kenya plans to send a delegation of 400 representatives to showcase products and services aimed at navigating the current economic challenges.
The event offers a crucial platform for participating MSMEs to display their latest innovations, exchange knowledge, and foster business linkages.
The trade fair is expected to facilitate increased trade and investment opportunities within the EAC, further bolstering regional growth and development.
The annual trade fair rotates among EAC member states and is seen as a cornerstone for promoting regional integration and cooperation, helping MSMEs tap into larger markets, especially through initiatives like the AfCFTA, which will enhance competitiveness and enable production at scale.
