Agreement in principle on the Japan-Kenya Investment Agreement
March 11, 2016
1. Japan and the Republic of Kenya reached an agreement in principle on the Japan-Kenya Investment Agreement after five rounds of negotiations. Japanese Prime Minister Shinzo Abe and Hon. William Arap Ruto, Vice President of the Republic of Kenya, confirmed in June 2013 to launch a preparatory meeting for the start of negotiations on the investment agreement between the two countries. Both countries also confirmed their intention that they will continue to negotiate on the remaining points of concern with a view to the early signing and completion of the agreement.
2. The Republic of Kenya, which spearheads the East African region both politically and economically, with its steady economic growth at an annual average rate of 6%, enjoys investment increase by the Japanese private companies in the recent years. This agreement is aimed at improving the legal stability with respect to the investment, and is expected to promote mutual people-to-people exchanges in tandem with bilateral investment as well as to bolster economic relations between the two countries.
3. Japan will continue to promote Japanese companies’ investment in Africa towards the Sixth Tokyo International Conference on African Development (TICAD VI) to be held in Nairobi, Kenya in August this year.