The United Nations Conference on Trade and Development (UNCTAD) through it’s Secretary-General Rebeca Grynspan has committed to supporting Kenya’s effort to achieve sustainable economic development.
Speaking during a meeting with Kenya’s President William Ruto on Tuesday, August 15, Grynspan lauded Kenya for her efforts in promoting innovation and the potential in the supply chain hub for sectors like automobiles, mobile phones, and solar power.
“UNCTAD is ready to support the nation’s investment, renewable energy, and digital policies for an inclusive and sustainable economic development,” MS Grynspan noted in a statement.
On his part, President Ruto underscored UNCTAD’s role in ensuring development in the country and solving challenges facing developing countries through various programs.
Ruto emphasized that trade remains key to long-term sustainable economic growth and as such called for unity in efforts to stimulate development-oriented trade.
“We strongly believe that UNCTAD is a strategic partner for Kenya not only in providing support under its three pillars of consensus building, research and policy analysis, and technical assistance but also in onboarding other development stakeholders so that we achieve as one,” said President Ruto.
UNCTAD flagship report
Secretary General Grynspan is visiting Kenya for several commitments including the launch of UNCTAD’s flagship report titled Economic Development in Africa 2023- which will give analysis of major aspects of the continent’s development problems and policy issues of interest to countries in the region.
In addition, the report will provide policy recommendations on possible solutions for solving development challenges facing the continent.
Furthermore, the UNCTAD Chief will engage Kenyan ministers, high-ranking officials, and business leaders on pertinent issues and oversee the presentation of UNCTAD’s “Holistic Productive Capacities Development Programme for Kenya” – a tool assessing the economy’s latent potential for output.
A statement shared by the UN trade body noted that Grynspan’s mission in the East African nation “underlines UNCTAD’s commitment to comprehending and bolstering African nations’ pivotal role in shaping the global economy”.