India and Kenya aim to increase their bilateral trade to $2.5 billion in the next three years from $1.5 billion in 2009-10 and have identified various steps to be taken for achieving it.
"The two sides have agreed to make all possible efforts to achieve a target of bilateral trade of $2.5 billion by 2013," a Commerce Ministry official said.
Indian Commerce and Industry Minister had met Kenyan Trade Minister Chirau Ali Mwakwere at the sixth meeting of the India-Kenya Joint Trade (JTC) which was held in Nairobi.
The two countries agreed to make every possible effort like organising trade delegations, organising seminars and conferences and fairs to further enhance the bilateral trade.
The bilateral trade between the two countries stood at $1.5 billion in 2009-10.
Sharma had said that the key sectors identified for bilateral cooperation were agriculture like agro-processing, drugs and pharma, infrastructure sectors like road, rail and energy, information and communication technology, oil and gas and healthcare.
India and Kenya have also agreed towards greater engagement between the 'Kenya Investment Authority' and 'InvestIndia', which would help in trade and investment flows between the two countries.
The two nations also decided to fast-track the finalisation of a Bilateral Investment Promotion and Protection Agreement (BIPPA) and a revised Double Taxation Avoidance Agreement (DTAA).
