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Kenya Boosts The Automotive Sector By Increasing Vehicle Exports
According to an official, Kenya plans to enhance motor vehicle exports to the East African Community (EAC) bloc in order to bolster the automotive sector.
Due to limited domestic demand for new automobiles, George Makateto, an official with the Ministry of Industry, Trade and Enterprise Development, told journalists in Nairobi that Kenya's automotive industry had a lot of unused capacity.
Kenya, Uganda, Tanzania, Rwanda, Burundi, and South Sudan are all members of the EAC. According to government data, Kenya's domestic assembly plants are currently manufacturing around 10,000 units per year, while having a capacity of 34,000.
The EAC trade bloc, according to Makateto, is a perfect market because Kenyan commodities are not subject to import taxes when they are exported within the area.
The Kenyan official disclosed that the country's automotive policy is nearing completion, and that if adopted, it will help to boost the country's auto industry.
He claims that the automobile policy promotes the industry by preventing second-hand car imports into the country.
Posted on : 25 Sep,2021 | News Source : www,atmrabnz.com
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