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{
    "id": 134407,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/134407/?format=api",
    "text_counter": 264,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "By way of background, in order to execute its mandate, the Ministry operates through six key departments mainly; Internal Trade, External Trade, Weight and Measures Department, Kenya Institute of Business Training, Business Premises and Rent Tribunal and the General Administration and Planning. Mr. Temporary Deputy Speaker, Sir, in addition, as part of executing its mandate, it also operates through five parastatals. These are: The Export Promotion Council charged with the responsibility of promoting our exports, Exports Processing Zones Authority which manages our EPZ, the Industrial and Commercial Development Corporation which handles investments, joint ventures and loans to small business, Kenya National Trading Corporation which clears and the Kenya Wine Agencies Limited. In addition, as I said earlier, my Ministry is in charge of coordinating the Government of Kenya interaction with the rest of world on international trade affairs, including matters to do with and not limited to the World Trade Organization (WTO), East African Community in matters of trade, United Nations Commission on Trade and Development (UNTCAD), Common Market for Eastern and Southern Africa (COMESA), European Union Economic Partnership Agreement (EPAS), International Organization for Legal Meteorology to do with measurements (OML) and the United States through the African Growth and Opportunity Act (AGOA) among others. Mr. Temporary Deputy Speaker, Sir, the strategic objectives and directions of the Ministry is focused to promote private sector development through enterprise and entrepreneurship development to improve the business environment and promote attractive investment climate, promote growth and development of wholesale as well as retail trade, broaden and deepen the export base as well as the markets, foster conducive linkages and collaboration mechanisms and enhance the Ministry’s capacity for quality service delivery. Turning to some statistics for the benefit of the House, I want to look at the performance and contribution by the trade sector to the economy. In 2008, the value of our domestic exports rose by 23 per cent while our total import rose by 27.4 per cent. Our leading export earners are the traditional horticulture, tea, articles of apparel and clothing accessories, soda ash which together amounted to 51 per cent of our total earnings. The total trade volumes increased by 26.9 per cent in 2008 compared to 13.95 per cent in 2007. The overall balance of payment widened in 2008 to a deficit of 42.6 billion from a deficit of only 33 billion in 2007, largely due to Kenya’s slowed economic performance in 2008, coupled with a higher import bill."
}