NEW DELHI: Kenyan President William Ruto will be making an official visit to India on December 5.
"This will be President Ruto’s first visit to India and will further enhance bilateral ties between the two nations. PM Modi had visited Kenya in July 2016 and the upcoming visit of President Ruto will enhance defence and trade ties," said a source.
India and Kenya are maritime neighbours. It may be recalled that on August 29 this year, Goa Shipyard Limited and Kenya Shipyard Limited signed an MoU for capacity building and collaboration in ship design and construction. The MoU was signed between India’s Defence Minister Rajnath Singh and Kenyan Cabinet Secretary for Defence Aden Bare Duale.
"Trade in local currencies will also be taken up for discussion during this visit. The President is likely to meet PM Modi and President Draupadi Murmu amongst others," the source added.
India has been trading in local currencies with a few countries and has Vostro accounts with over 22 nations, which includes Kenya.
Meanwhile, an India-Kenya Trade Agreement was signed in 1981, under which both countries accorded Most Favoured Nation status to each other. The India-Kenya Joint Trade Committee (JTC) was set up at ministerial level in 1983 as a follow-up to the agreement. The JTC has met nine times, with the last meeting in August 2019 in New Delhi.
India was Kenya’s largest trading partner in 2014-15 with bilateral trade of $ 4.235 billion. The main Indian exports to Kenya include petroleum products, pharmaceuticals, steel products, machinery, yarn, vehicles and power transmission equipment. The main Kenyan exports to India include soda ash, vegetables, tea, leather and metal scrap.