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Thursday, 09 February 2017

Boost for regional trade as Singapore, China agree to expand business in Kenya

More business is expected at the Port of Mombasa after Singapore’s Pacific International Lines and China’s Guangzhou Yansha Development Zone partnered to increase their investments. PIL, the fourteenth largest container liner company in the world, and Guangzhou have agreed to build more rail and road connections in East and Southern Africa. The two companies signed a strategic cooperation agreement in Mombasa last week, sealing a deal to cover Kenya, Uganda, Rwanda, Burundi, South Sudan, Zambia and Malawi. The trade pact was signed by Guangzhou’s Zhang Benhua and Yong Wang, PIL East Africa representative Nandar Warrier, and Kenya Shipping Agency Association CEO Juma Tellah. “PIL is a leading carrier providing reliable and prompt service covering all major and minor ports in China. China is an important partner for East African countries and the cooperation will increase with Chinese participation in major infrastructure and development projects,” Warrier said. PIL, which began its services to Africa in the 1960s, covers the ports of Mombasa, Dar es Salaam and other regional ports including Zanzibar, Tanga, Mtwara and Pemba. The partnership is expected to increase cargo volumes to the region as China remains the key source for raw material and finished products.

Source: www.the-star.co.ke