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{
    "id": 614346,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/614346/?format=api",
    "text_counter": 191,
    "type": "speech",
    "speaker_name": "Hon. Limo",
    "speaker_title": "",
    "speaker": {
        "id": 1915,
        "legal_name": "Joseph Kirui Limo",
        "slug": "joseph-kirui-limo"
    },
    "content": "Thank you, Hon. Speaker for giving me this chance. I also rise to support this ratification agreement. However, there is no reason whatsoever why our country is one of the most expensive countries to import or export goods. The reason for this is lack of efficiency. In trade, a lot of costs are associated with inefficiencies. Most of the costs are related to holding stock. If you know that it will take a lot of time to get your goods to Kenya, you will tend to stock more. If you stock more, there will be a lot of costs related to stock holding. At the same time, there will be financing costs because you need to go to the bank and get more money, so that you can stock a lot more. As we ratify this, my biggest worry is the preparedness of this country to take advantage of this ratification. Once we ratify, a lot of things will change including the cost related to our ports. I was surprised that we are five times more expensive in terms of passing goods, which are related to either imports or exports, through our ports, than other countries. In Singapore, it cost around US$400 per metric tonne while in Kenya, it is over UD$2,400. We are very expensive and once we reduce, we have to be very careful and take advantage of this reduction. If we reduce and other people use that advantage to trade and as Kenyans we do not use the advantage, then it will not benefit us. As we ratify, we need to sharpen our entrepreneurs in terms of training them and making them aware of the opportunities which are now available through this agreement, so that we can become competitive and attract more entrepreneurs to invest in this country. That way, we can create more jobs and increase our revenues. The moment we become cheaper in terms of charges in our ports, we cannot benefit if we do not take advantage to ensure that there is a lot of turnover. The benefit which will accrue by reducing our cost will be offset by an increased turnover. Once we do not take The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}