Kenyan President, William Ruto, and Indonesian President, Joko Widodo, have forged agreements promoting collaboration between Kenyan company Biovax and Indonesia’s BioFarma in pharmaceutical and vaccine development.
The two nations intend to bolster local health product manufacturing, fostering access to vaccines and generating employment. The Kenyan Health Ministry commits up to Ksh2 billion ($13.85 million) to Biovax’s initiative, focused on producing COVID-19 vaccines and other medical solutions.
Kenya aims to avoid vaccine shortages similar to those experienced during the pandemic. The partnership extends to regulatory collaboration, as the Kenya Pharmacy and Poisons Board and Indonesia Food and Drug Authority sign a Memorandum of Understanding, aiming to enhance pharmaceutical regulation.
President Ruto highlights the importance of private sector involvement in vaccine and pharmaceutical production, emphasizing the need to prepare for future health crises. Both countries additionally explore joint efforts in mining, geology, investment, trading, and education.
Discussions encompass cooperative research, information sharing, capacity building, and a potential preferential trade pact. President Ruto reveals plans to finalize a bilateral investment treaty within 90 days, ensuring a stable investment environment to attract private sector participation.
Indonesia’s exports to Kenya have grown at an annual rate of 14.5% over the past 26 years, including hot-rolled iron bars and stearic acid. Both nations are committed to fostering economic ties, local production, and mutual growth through their collaborative initiatives.
