“Kenya and Russia Set to Ink Trade Deal in a Dizzying Surge to Revitalize Inter-National Ties”
In a stunning announcement, President William Ruto has declared that Kenya will be delving further into their relations with Russia in hopes of increasing trade volumes. While potential for growth between the two countries is immense, President Ruto stated that currently, trade remains low. However, hope has been reignited with the coming signing of a trade pact that is aimed at giving businesses the necessary tools to succeed. This bold statement was made on Monday at State House in Nairobi, when Russian Foreign Minister Sergei Lavrov was hosted by the Kenyan Head of State. During the meeting, President Ruto and Lavrov agreed on the urgent need to reform the United Nations Security Council in order to better suit the needs of society in the 21st Century. Additionally, President Ruto argued that Africa deserves a seat on the council, mentioning that the continent holds “rich ideas, suggestions, and experiences that would serve the globe well.”
President Ruto also touched on the ongoing Russia-Ukraine war, stating that Kenya has maintained a steadfast position on respect for the territorial integrity of member states as outlined in the UN Charter. He called for a resolution of the conflict that is respectful to both parties, while Lavrov praised the 60 years of friendship between the two nations and noted that scientific cooperation has been progressing between them.
In another groundbreaking statement, President Ruto urged African leaders to address infrastructure issues in order to boost trade in the region. He emphasized the need for sustainable funding to accelerate the overhaul of infrastructure, which he claims has made doing business costly and hindered the competitiveness of the continent. During the opening of the African Continental Free Trade Area (AfCFTA) Council of Ministers Meeting and the African Private Sector Dialogue on AfCFTA in Nairobi, Ruto also called for the establishment of a common payment and settlement system to support trade between African countries. By eliminating the challenges of cross-border payments, Ruto believes that the system will accelerate intra-Africa trade and generate jobs, enhance manufacturing, and drive economic growth. If actualized by 2035, AfCFTA will contribute to more than 30 million people escaping extreme poverty and expand intra-African exports by approximately 80%.
Throughout the meeting, President Ruto appealed to countries that had not yet signed and ratified AfCFTA to join their peers in fashioning the world’s next global economic powerhouse. Noting that AfCFTA will drive commerce within Africa and stimulate economic growth, President Ruto called on African leaders to strengthen the African Union by allowing it to negotiate on behalf of the continent. Present during the meeting were other key figures like the Chairperson of the AU Assembly of Heads of State and Government Azali Assoumani, Champion of the AfCFTA and Former Niger President Issoufou Mahamadou, Secretary General of AfCFTA Wamkele Mene, Cabinet, and Principal secretaries, and the private sector, among others.