Tax boost for SA, Kenyan businesses

30 November 2010

Kenya and South Africa have agreed to waive double taxation for businesses operating in both countries, and have also signed a memorandum of understanding on agricultural cooperation.

The agreements – signed during Deputy President Kgalema Motlanthe’s visit to Kenya last week – are aimed at improving commercial relations between the two regional economic powerhouses before a planned visit by President Jacob Zuma next year.

Motlanthe and his Kenyan counterpart, Kalonzo Musyoka, agreed that processes to address some of the impediments to trade and contact between the two countries needed to be addressed.

Both Kenya and South Africa agreed to enhance bilateral cooperation in trade and investment, tourism, higher education, diplomacy and the management of correctional facilities.

Addressing regional issues

Motlanthe also held talks with Kenyan President Mwai Kibaki and Prime Minister Raila Odinga on regional economic issues. The two countries agreed that the future development of Africa depended on increased intra-Africa trade and the resolution of conflicts.

South Africa and Kenya reaffirmed their commitment to ensuring a peaceful referendum in Sudan in January 2011.

Turning their attention to Somalia, it was agreed that the Institutions of the Traditional Federal Government be strengthened, and that AMISOM (the United Nations-backed peacekeeping force operating in that country) be supported in order to ensure peace and stability.

The two countries also agreed to continue holding regular consultation on topical issues, with a view of having a common position in regional and international forums.

Source: BuaNews