Boost for Kenya’s bid to host global trade forum

President Uhuru Kenyatta with Prof Klaus Schwab, Founder and Executive Chairman of World Economic Forum, when they held bilateral talks in Beijing, China. PHOTO | PSCU

What you need to know:

  • Prof Schwab met with President Kenyatta on the sidelines of the Belt and Road Forum in Beijing, China where they discussed "bilateral issues" according to a dispatch from State House.
  • Kenya hosted the World Trade Organisation ministerial conference in Nairobi in December 2015 and the UN Conference on Trade and Development (UNCTAD) meeting in July last year.

In Beijing, China

Kenya's bid to host World Economic Forums (WEF) in 2018 has been strengthened after the forum’s founder announced he will send a team of assessors to check facilities in the country.

Industrialisation Cabinet Secretary Adan Mohamed said on Sunday the founder and Executive and Executive Chairman of the WEF, Klaus Schwab, agreed to the idea after meeting with President Uhuru Kenyatta.

Prof Schwab met with President Kenyatta on the sidelines of the Belt and Road Forum in Beijing, China where they discussed "bilateral issues" according to a dispatch from State House.

But the announcement that WEF will assess Kenya's facilities now puts the country a step closer to hosting one of the most prestigious economic discussions.

Founded in 1971 in Davos, Switzerland, the WEF provides an annual meeting of economists, business leaders and political leaders to discuss ways of improving global trade and investment.

It holds an annual meeting in Davos which brings together over 2000 leaders every year.

It also organises meetings in regions every year.

Rwanda and South Africa have hosted such meetings before. WEF often considers security and availability of sufficient hospitality services to determine hosts.

Kenya hosted the World Trade Organisation ministerial conference in Nairobi in December 2015 and the UN Conference on Trade and Development (UNCTAD) meeting in July last year.

It also hosted the Tokyo International Conference on Africa Development (Ticad).