The deal (Comprehensive Economic Partnership Agreement) is intended to make the UAE a key trade partner, ensuring that Kenya has another prime-time export market.
The president of both countries William Ruto of Kenya, and Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, presided over the signing.
As per a statement from State House, the agreement solidifies Kenya’s standing as a gateway to East and Southern Africa and underlines the UAE’s position as a major financial and logistical center linking the Middle East, Asia, and beyond.
According to Prime CS Musalia Mudavadi, as reported by The Star, CEPA intends to strengthen trade, investment, and economic cooperation.
“Through the gradual removal of tariff and non-tariff barriers on most traded goods, it paves the way for a robust free trade area between the two countries,” Mudavadi said in Abu Dhabi.
Data from Kenya’s National Bureau of Statistics (KNBS) 2024 economic assessment indicated that imports worth Sh411.5 billion in 2023 allowed the Middle-Eastern country to surpass India in becoming Kenya’s second-largest import source after China.
In a year, China accounted for Sh459 billion in imports, with India ranking third, followed by Saudi Arabia and Malaysia as the nation’s top five import suppliers.
Out of the Sh106.6 billion in exports to the Middle East, Sh55.9 billion went to the Emirates. Kenya primarily exports tea, beef, animal products, fruits, vegetables, and flowers to the United Arab Emirates, the Star’s report shows.
Petroleum oil, iron and steel, plastic and copper products, equipment, chemicals, and various home products are the UAE’s top exports.
