Kenya Trade Agreement With UAE Ready For Signing, Says CS Mvurya
Kenya Trade Agreement With UAE Ready For Signing, Says CS Mvurya
Cabinet Secretary for Investment, Trade, and Industry, Salim Mvurya, who presided over the United Arab Emirates-Kenya Trade and Investment Forum said that Kenya and UAE agreement is set to provide an opportunity for the country to profile itself as a gateway market to the rest of the continent.
Kenya and the UAE are in the advanced stages of finalizing a landmark Comprehensive Economic Partnership Agreement (CEPA), which aims to boost market access, reduce trade barriers, and increase investment flows in crucial sectors such as manufacturing, tourism, energy, and infrastructure.
The agreement, which is expected to be officially signed soon, marks a pivotal step in enhancing economic cooperation between the two countries, which already share a strong trade relationship.
Kenya Trade Agreement With UAE Ready For Signing, Says CS Mvurya
The UAE ranks as Kenya’s sixth-largest trading partner, with bilateral trade reaching approximately $4 billion annually.
Kenya exports primarily agricultural products, including tea, coffee, flowers, meat, and fresh produce, to the UAE, while imports from the UAE consist mainly of petroleum products, bituminous minerals, and polymers.
“Kenya is committed to deepening and expanding its bilateral trade relations with the UAE. The CEPA will open new doors for investment and trade, facilitating a stronger economic partnership and providing a framework for sustained growth.” said CS Mvurya
Additionally, Mvurya said “We are on a positive trajectory. The CEPA, combined with our commitment to improving business conditions, will help us achieve sustainable economic development. We are laying the groundwork for a brighter future, and we invite our friends from the UAE to join us on this journey.”
The event, jointly organized by the Sharjah Chamber of Commerce and Industry (SCCI) and the Kenya Private Sector Alliance (KEPSA), brought together key business leaders to explore new opportunities for trade and investment between the two nations.
