A free trade agreement has just been concluded between Kenya and South Korea during a meeting between the trade ministers of the two countries.
The objective of this agreement is to facilitate trade and commerce, especially for Kenyan products such as coffee, tea, avocados, nuts and fresh vegetables.
Currently, trade shows a trade imbalance in favor of South Korea, which exports more (500 million USD) to Kenya than Kenya exports to South Korea (25 million USD).
Various other initiatives will be implemented, such as the opening in Seoul (South Korea) of an office for the KITA (Kenya International Trade Agency) and in Busan (South Korea) of warehouses for Kenyan products. As well as joint investments in certain areas of Kenya.