The accord seeks to bolster bilateral trade, attract foreign direct investment, and raise the trade volume between the two countries to over $1 billion. It also lays the groundwork for expanded collaboration across economic, technological, cultural, and social sectors.
Mehdi Heydari, who accompanied Iran’s Minister of Agricultural Jihad to Nairobi for the 7th Joint Commission on Economic Cooperation, noted that the meeting—held after an 11-year hiatus—represents a significant step toward revitalising Iran-Kenya investment relations. The Iranian delegation included senior officials from the Ministry of Agriculture, the Investment Organization, and representatives from the private sector.
Highlighting Kenya’s strategic position in East Africa and its economic potential, Heydari underscored mutual interest in expanding cooperation in agriculture, industry, healthcare, banking, tourism, and technology.
The MoU is expected to facilitate the entry of Iranian firms into the Kenyan market, positioning Kenya as a gateway to East African and neighbouring economies. The agreement aligns with Iran’s broader strategy to deepen its economic footprint across the African continent.
Beyond trade and investment, the pact also envisions enhanced technological, cultural, and social exchanges. Heydari emphasised that the implementation of the agreement will rely heavily on the engagement of business communities and chambers of commerce in both countries. “Kenyan officials have expressed strong interest in expanding trade with Iran,” he said, adding that Iran’s Investment Organization will actively pursue the objectives outlined during the visit.