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OF COMMERCE AND INDUSTRY IN MOSCOW 16 AUGUST 2013 The Vice President, Russian chamber of commerce and industry, Mr Georgy Petrov Your Excellencys Ambassadors from Africa Distinguished guests Ladies and gentlemen I take this opportunity to thank you, Mr. Vice President, and members of the chamber of commerce and industry, for enabling my delegation to interact and exchange ideas with your group. I am happy to note that the Russian business community has recognized Kenyas potential as one of the most promising investment destinations in Africa, and wishes to deepen the existing trade and economic relations with us. This forum comes at a time when Kenya has undertaken far reaching reforms that have created a conducive environment for doing business. Our country is on a path of high economic growth and has emerged as the regional economic, trading and investment frontier. I welcome Russian investors to take advantage of our strategic location as the gateway to the East African Community and the common market for Eastern and Southern Africa which has a combined market potential of more than 400 million people. Mr. Vice President, Distinguished Ladies and Gentlemen The agricultural sector is the mainstay of Kenyas economy and the achievement of national food security is a key goal of my government. This is in line with Kenyas vision 2030, a long-term development blue-print whose focus is to create a globally competitive and prosperous country and high quality of life by 2030. Your partnership and support in achieving our national aspirations is welcome. A priority for us remains attaining food security and ensuring adequate food reserves. To that end, my government has undertaken to irrigate large tracks of land that are ideal for food production and make fertilizers accessible and affordable. Mr. Vice President, Distinguished Ladies and Gentlemen I am aware that Russia is one of the largest producers and suppliers of fertilizers. I would like to encourage Russian manufacturers and exporters to supply the required high quality fertilizers to Kenya in the short-term. In addition, it would be mutually advantageous to partner with us in

establishing a fertilizer plant in Kenya. Our current needs are around 500 thousand metric tonnes per year. The requirements are higher if the target is the greater East African market. Mr. Vice President, Distinguished Ladies and Gentlemen There are other opportunities in Kenya, particularly in the energy sector as you may be aware, we have struck oil that is commercially viable and in technology, infrastructure and tourism. I would be happy if you expressed an interest in investing in these sectors. Allow me to also highlight two infrastructure projects that could be of great interest to you. The Lamu port for South Sudan and Ethiopian transport corridor (lapsset) that links the Kenyan coast line with south Sudan and Ethiopia; and the African land bridge project that seeks to link the Atlantic and Indian oceans from the harbour ports of Douala in Cameroon and Lamu in Kenya. These projects involve the construction of resort towns, pipelines, railway lines and major roads. They are a great opportunity for you. Mr. Vice President, Distinguished Ladies and Gentlemen Kenya prides itself as a producer of the best quality black tea in the world. Our tea has won international acclaim for its taste, aroma and high quality. It is the beverage of choice in restaurants and cafes across the globe. I recognise that Russia is one of the largest importers of Kenyan teas. May I urge our business communities to explore ways of increasing the market share of our tea, high quality coffee, vegetables and flowers in Russia to deepen and strengthen our bilateral ties. Mr. Vice President, Distinguished Ladies and Gentlemen In conclusion, I am confident that the outcome of this forum will be the genesis of enhanced trade and investment links that will improve the existing economic relations of our two countries. I remain hopeful that businesses and investors from both sides will take advantage of our excellent historic relations, the conducive investment climate in Kenya and our common quest for a world free of encumbrances and conditionalities to establish networks that will yield immediate results for the benefit of our people. I thank you. God bless you.

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