Strengthening Economic Ties Between the UK and East Africa

Fatehi opened by highlighting LCCI’s pivotal role in helping British businesses expand globally. With a network of nearly 8,900 members, the LCCI has identified East Africa as a region of growing importance, particularly in Kenya, Tanzania, Uganda, and Rwanda, which boast some of the fastest-growing economies on the continent. "East Africa presents a unique opportunity for UK businesses looking to expand," Fatehi remarked, citing the region’s rapid economic development.

He noted that the UK-Africa Business Summit plays a critical role in advancing UK-East Africa relations, especially as the UK continues to strengthen global trade ties post-Brexit. The LCCI, according to Fatehi, aims to position London as a premier global business hub, providing British firms with the tools and insights needed to navigate international markets effectively.

Key Initiatives to Foster Trade and Investment

The LCCI has introduced several initiatives to break down barriers hindering trade between the UK and East Africa. These include organizing trade missions, business forums, and sector-specific events to encourage collaboration. "Our recent trade missions to Kenya, Rwanda, and Ethiopia, alongside delegations from East African business communities, have identified key areas for improvement," Fatehi shared.

One of the chamber’s primary objectives is to boost UK exports to East Africa, while also addressing challenges East African businesses face when exporting to the UK. In 2023, the UK imported £700 million worth of goods from East Africa, including agricultural products, textiles, and minerals. However, Fatehi stressed that these figures only scratch the surface of the region’s export potential.

Addressing Trade Barriers and Improving Logistics

Fatehi underscored the need to promote East African products more widely in the UK market. "East Africa has high-quality products that deserve better visibility in the UK," he stated, stressing the importance of creating opportunities for East African businesses to connect with UK retailers.

Improving logistics and supply chain infrastructure is also crucial to enhancing trade. Fatehi called for more investment in transport infrastructure, better connectivity, and streamlined customs procedures between the two regions. "Better transport links and streamlined customs processes will open the door to more efficient trade, benefiting both regions," he emphasized.

Future Collaboration and Advocacy for Trade Policies

Looking ahead, Fatehi reaffirmed the LCCI’s commitment to working closely with East African partners to explore new business opportunities and tackle trade barriers. He advocated for trade agreements that would lower tariffs and improve market access for East African goods in the UK.

"The London Chamber of Commerce is fully committed to strengthening economic ties between the UK and East Africa. By working together, we can create lasting prosperity for businesses and communities on both sides," Fatehi concluded.

This call to action at the UK-Africa Summit signals a robust desire for deeper UK-East Africa collaboration, with initiatives already in place to turn these ambitions into reality.