UAE and Kenya finalised the Comprehensive Economic Partnership Agreement (CEPA) to bolster supply chains, boost investment, and improve market access.
The deal targets key sectors like logistics, healthcare, tourism, infrastructure, and ICT, facilitating SME cooperation and growth.
“The UAE-Kenya CEPA will not only boost trade and investment, but also foster innovation and sustainable growth in key sectors such as agriculture, technology and tourism,” said Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade. “We look forward to deepening our relationship with Kenya and to further expanding our presence in Africa as a trusted partner and investor.”
Kenya’s GDP growth is projected to rise from 4.8% in 2022 to an estimated 5% in 2023, with further growth expected between 4.5% and 5.2% in 2024. UAE businesses stand to benefit from opportunities in Kenya’s services and agriculture sectors.
“The Comprehensive Economic Partnership Agreement with the UAE will play a key role in these efforts, enabling our exports to reach important markets in Asia and the Middle East, and also in stimulating the investment inflows that will further develop our national capabilities,” said Rebecca Miano, Kenya’s Cabinet Secretary for Investments, Trade and Industry.
