Kenya, Italy ink deals to spur bilateral ties-Xinhua

Kenya, Italy ink deals to spur bilateral ties

Source: Xinhua| 2023-03-14 23:30:45|Editor: huaxia

NAIROBI, March 14 (Xinhua) -- Kenyan and Italian governments on Tuesday signed two agreements, two memoranda of understanding and a joint declaration to provide a framework for the advancement of bilateral cooperation in different fields.

The deals which were inked in the Kenyan capital Nairobi and witnessed by Kenyan President William Ruto and visiting Italian President Sergio Mattarella are expected to boost bilateral relations between the two countries.

"We have signed an MoU through which our two countries shall cooperate in the field of health, towards the realization of Universal Health Coverage and improved pharmaceutical production," Ruto said, according to a statement issued after the ceremony.

Ruto explained that the two countries had further committed to re-establish cooperation on the construction of two dams in the northwest part of the country. These projects, the two leaders noted, are critical to their agenda on food security and climate action.

The two countries also agreed to remove non-tariff barriers in their bid to stimulate trade and investment. They will negotiate on the avoidance of a double-taxation agreement that will usher in higher levels of foreign direct investments.

Both Mattarella and Ruto said that they had shared views about opportunities to improve the balance of trade between the two countries which will be in the areas of agro-industrial, information and communication technology and bio-fuel projects.

During the meeting, Italy committed to advance 14 billion Kenyan shillings (108.5 million U.S. dollars) in grants and soft loans covering projects in agriculture, micro, small and medium enterprise (MSMEs), housing and urban settlement, health, the digital super highway and creative economy.