Economic Collaboration: UAE and Kenya Secure Comprehensive Partnership Deal

UAE and Kenya Secure Comprehensive Partnership Deal

UAE and Kenya Secure Comprehensive Partnership Deal

Dubai, February 23 – The United Arab Emirates (UAE) and Kenya have successfully concluded a Comprehensive Economic Partnership Agreement (CEPA), announced UAE Minister of Foreign Trade, Thani Al Zeyoudi, on Friday. Kenya, boasting East Africa’s largest economy, was among the first African nations to engage in bilateral trade deal discussions with the UAE in 2022, aligning with the UAE’s strategic initiative to diversify its oil-dependent economy.

According to Al Zeyoudi, non-oil trade between the UAE and Kenya soared to $3.1 billion in 2023, marking a significant 26.4% increase from the previous year. Taking to the social media platform X, Al Zeyoudi expressed the intention to broaden collaboration across various sectors, ranging from food production and mining to technology and logistics, as part of the newly established agreement.

Quoting Kenya’s Minister of Trade, Rebecca Miano, the UAE state news agency WAM emphasized the pivotal role the agreement will play in facilitating Kenyan exports to crucial markets in Asia and the Middle East. Miano added that the CEPA is expected to stimulate investment inflows, contributing to the further development of Kenya’s national capabilities.

This economic partnership builds on the UAE’s strategy of fostering international trade relations. The UAE has previously inked CEPA agreements with nations like Israel, Turkey, India, and Indonesia. Notably, in 2023, the UAE expanded its economic footprint in Africa by sealing its first CEPA with the island nation of Mauritius and the Republic of Congo-Brazzaville.

The successful conclusion of the CEPA between the UAE and Kenya signifies a positive step towards strengthening economic ties, fostering mutual growth, and unlocking new opportunities for trade and investment between the two nations. As both countries look forward to expanding collaboration across diverse sectors, the agreement is poised to contribute significantly to the economic prosperity of the UAE and Kenya.

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