Free Flow of Capital, People, Goods and Services Key in Strengthening Integration

Kenya is working toward boosting international trade and strengthen regional integration as part of its economic development agenda

This was according to Monica Juma, the country’s cabinet secretary for Foreign Affairs and International Trade, in a wide-ranging interview she gave recently to Oxford Business Group (OBG).

Juma told the global research and consultancy firm that infrastructure development, including improvements to facilities at the Port of Mombasa and the completion of the Standard Gauge railway project ahead of schedule, was set to play a key part in supporting commerce across the East African nations.

“In addition, Kenya has been at the forefront of negotiations for the African Union’s Continental Free Trade Area and for The Tripartite Free Trade Area, both of which have already been ratified,” she said. “In Africa, integration has to be three-fold and should aim for the free flow of capital, people, and goods and services.”

Juma also highlighted the country’s commitment to bringing the diaspora on board for its economic expansion plans, describing the role of Kenyans living abroad as “fundamental” and “expected to increase in the years to come”.

“The importance of the diaspora is undeniable and is living proof of the ingenuity and skills of Kenyans abroad,” she said. “… discussions among the country’s leadership and members of the diaspora are very frequent. This growing engagement can be illustrated by the fact that some of the biggest expressions of interest for projects related to the Big Four agenda, in areas such as housing and manufacturing, have come from Kenyans abroad.”

Turning to the government’s efforts to generate and maintain peace and security in East Africa, Juma acknowledged that addressing issues such as transnational crime, piracy, terrorism, and human trafficking presented challenges.

“However, the country is firm in its agenda of collaboration, openness, and integration,” she said. “For Kenya, developing industries able to compete on the world market and creating human capital, is a much more efficient use of resources than closing itself off to the region and the rest of the world.”