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Bilateral trade and investment between China, Kenya soars over decade
Last Updated: 2014-05-12 14:15 | CNTV.cn
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December 14th, 2013 marked the Golden Jubilee of the establishment of diplomatic relations between China and Kenya back in 1963. Over the years, the two nations have strengthened cooperation not just on the diplomatic, but also the economic front.

Located on Africa's east coast and straddling the equator, Kenya borders Somalia, Ethiopia, Sudan, Uganda and Tanzania. With the Indian Ocean to the southeast, Kenya covers an area of over 580,000 square km and has a 536-km coastline.

Kenya's former president Mwai Kibaki visited Beijing in August 2005, and strengthened ties between the two states, with economic cooperation and trade receiving major boosts. By June 2013, China's direct investment in Kenya reached 474 million us dollars, with bilateral trade alone amounting to 2.8 billion in 2013. Making China Kenya's largest source of foreign direct investment, and second largest trade partner.

Wildlife is Kenya's natural resource and economic pillar . and in 2013, The number of Chinese tourists to the country soared to over 40,000. The Kenya Tourism Board predicts that China will soon surpass the US and Europe as a the biggest tourism source market.

Kenya is known as the region's logistics, trade and transport hub. Yet, its railway dates back to the colonial era, with a journey to the coastal hub of Mombasa taking upto 12 hours. Now, a Chinese-funded railway project in Kenya is set to transform transport in east Africa.

"The project will define my legacy as president of Kenya, what we are doing here today will most definitely transform, not only Kenya but the whole eastern African region." Kenyan President Uhuru Kenyatta said.

The mega projects initiated recently like Mombasa-Nairobi standard gauge railway and the Greenfield airport project will propel Kenya to the next level of development. Both governments hope for mutual economic cooperation and trade in the next few years to realise mutual benefits and win-win progress.

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