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S. Korean biz group offers joint committee with Kenya

All News 15:34 June 01, 2016

SEOUL, June 1 (Yonhap) -- South Korea's business community has proposed the resumption of a joint civilian committee with Kenya, a relevant group said Wednesday.

The offer was made during a bilateral business forum held on the occasion of President Park Geun-hye's trip to the African nation, according to the Korea Chamber of Commerce and Industry (KCCI).

South Korea's business delegation is accompanying Park.

"It's the first time in 34 years for South Korea's business delegation to travel to Kenya," the KCCI noted. "Opportunities for small- and medium-sized South Korean firms to do businesses in Kenya are expected to expand, as the country hopes for South Korea-style industrial complexes.”

It added that IT, healthcare, energy and car components are among the fields for cooperation. More than 20 South Korean companies are currently operating in the nation.

Park Yong-maan, the KCCI head, also emphasized the need to restart the South Korea-Kenya civilian economic cooperation committee.

Kenya is continuing 5-percent-level economic growth on the basis of favorable business conditions, he was quoted as saying.

Park suggested the two sides hold the joint committee meeting on a regular basis. The panel was established in 1983 but its session was held only once in 1987.

Meanwhile, he signed an accord with Kiprono Kittony, chairman of the Kenya National Chamber of Commerce and Industry, for partnerships between the two organizations.

"The two sides agree to make their utmost efforts to expand the exchange of businesspeople and economic cooperation," the KCCI said.


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