The recent visit by Brazil’s President Luiz Inacio Lula da Silva to Kenya, has reinforced the latter’s new foreign policy of closer trade ties with emerging markets in addition to its traditional partners.
Although President Lula only visited Kenya and Tanzania out of the five East African Community countries, it was clear that Brazil — that has lately taken keen interest in Africa — is eyeing the integration process and the opportunities it offers in trade and investment.
But Kenya is still disadvantaged by its trade imbalance with Brazil.
For instance in 2009, Kenya exported goods worth $947,730 to Brazil compared with the $58 million worth of imports from the country.
President Mwai Kibaki said that Kenya was especially keen on exploiting Brazilian advances in the area of bio-diesel technology, in an effort to become more efficient in the management of the energy sector.
For more information, see http://www.theeastafrican.co.ke/news/Lula%20seeks%20stronger%20economic%20ties/-/2558/955802/-/gylwlh/-/
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