European country Portugal, has launched the Portuguese Business Council in Kenya.
The aim of the office, is to help Portuguese companies interested in the healthcare, agriculture, technology, and manufacturing sectors, find opportunities and also set up and begin operations in Kenya.
According to the Council founder Joao Ramos, the Portuguese Business Council will assist both Kenyan and Portuguese companies, with identifying investment opportunities within the two countries and also work with different agencies to improve the business environment between both countries.
Kenya and Portugal have been able to sustain a cordial relationship for years.
As of 2017, Kenyan exports to Portugal increased to 480 million Kenyan Shillings, while imports from the European country hit 1.64 billion Kenyan Shillings.
The Treasury Cabinet Secretary Henry Rotich signed an agreement in 2018, with the Portuguese minister of Finance to avoid double taxation of income generated from either country.
The agreement was in order to enhance trade and investment between the two countries.
Two Portuguese firms involved in paint manufacturing and motor vehicle assembly, also set up operations in Kenya in 2018.
Authorities from Kenya and Portugal agreed to share tax information to reduce cases of tax evasion.
In addition, both countries have also signed several agreements which have led to the close link between them.
