Bangladesh Minister advices Ruto on how to solve the high cost of living
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Bangladesh Foreign Minister calls on President Ruto to find solutions to Kenya's economic struggles amid the high cost of living
Bangladesh Foreign Minister calls on President Ruto to find solutions to Kenya’s economic struggles amid the high cost of living.
Bangladesh Foreign Minister, AK Abdul Momen, urged with President William Ruto to find solutions to Kenya’s economic challenges, notably the high cost of living.
Speaking at the Bangladesh High Commission in Kenya on Monday, June 5, the minister stated that Kenya could solve many of its economic problems by taking advantage of investment opportunities in Bangladesh.
The Asian country, he added, was already establishing up firms in Kenya to boost economic progress.
“One of our private companies is starting a pharmaceutical company in Kenya to produce state-of-the-art pharmaceuticals.
“One of our private companies is starting a pharmaceutical company in Kenya to produce state-of-the-art pharmaceuticals.
“Our country has made incredible progress from a food-insecure nation to becoming self-sufficient,” he stated.
Bangladesh achieved such strides, especially in healthcare, by introducing community clinics and providing free primary medical care to residents in remote areas.
Additionally, Momen highlighted that despite the increasing global inflation owing to the effects of the pandemic and Ukraine and Russian conflict, Bangladesh retained its global financial success.
“Despite the fact that the country is not wealthy, the government has provided free food assistance to prevent the poor from suffering during the pandemic,” he noted.
Momen thus urged Ruto to allow the government to benchmark Bangladesh.
The Foreign minister advised Ruto to establish a direct airline between Kenya and Bangladesh to allow businessmen from the two countries to work together.
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“I think Kenya should also open up a direct airline between Kenya and Bangladesh, which will help even our businessmen as they also benefit.
“Over the past 14 years, our Growth Domestic Product (GDP) growth rate has averaged 6.7 percent, and it was previously one of the highest in the world. Our economy is doing very well, and there are numerous opportunities for Kenyans,” he explained.
Ruto was also asked to establish an embassy in Bangladesh to foster international relations.
“We have had our embassy in Kenya for a long time but Kenya has not yet opened up an embassy in our country and I think that is one of the things they can do,” he added.
Earlier on May 2023, Ruto reiterated his commitment to ensuring economic growth in the country, suggesting the introduction of a regional payment system infrastructure to facilitate trade among different countries.
Additionally, he continued to advocate the implementation of the proposed Finance Bill 2023, stating that it contained adequate plans to offer employment opportunities to Kenyans and enable low-income earners to own homes.
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