The European Union (EU) has declared an investment of €25 million to TradeMark Africa, which was previously known as TradeMark East Africa, to help bring about a five year program that will push Kenya’s exports and aid the government in generating an encouraging environment.
The programme will lessen exports’ carbon footprint. H.E Henriette Geiger, EU’s ambassador to Kenya and David Beer, TradeMark Africa’s Chief Executive Officer, signed the contract in the midst of Hon. Moses Kuria, Kenya’s Cabinet Secretary for Investments, Trade and Industry during the currently happening EU-Kenya Business Forum that is being held in Nairobi.
Tagged Business Environment and Export Enhancement Programme (BEEEP), the program will lay its foundation on interventions which is already backed up by the Kenyan government and will sum up the purpose of the Integrated National Export Development and Promotion Strategy, also known as INEDPS, that is looking to enlarge Kenya’s agricultural exports. The essence is to close the undesirable balance of trade via export development, encouraging economic growth and factor productivity and employment creation in an inclusive and sustainable method.
Henriette Geiger, EU’s ambassador to Kenya, in her speech before the ceremony stated that everything comes together with the BEEEP program, including the financial institution, government and private sectors. She noted the EU’s delight in supporting the Kenyan government in obtaining a maintainable development of its exports, including logistics and greening of transport. She went further to state that the program falls in line totally with the EU’s Global Gateway Strategy and that the EU’s help to build a more encouraging business environment both nationally and county level will make the Eastern African country a more appealing place for investments.
The Chief Executive Officer of TradeMark, David Beer, also praised BEEEP in being an inceptive that will aid Kenya in unfolding her export base. He expressed their pleasure in collaborating with the Kenyan government and private sectors to materialise for Kenya’s horticulture exports which they believe have the uttermost ability in pushing exports, employment creation and value adding.
BEEEP will prioritize solutions that resolve supply chain restrictions and storage and logistics issues; increase processing, information access and value addition and strengthen rectification that will improve the business environment.