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In a landmark move to strengthen bilateral trade, Kenya and the United Arab Emirates (UAE) have signed the Comprehensive Economic Partnership Agreement (CEPA), aimed at boosting economic ties between the two nations.
The signing ceremony took place in Abu Dhabi, with Kenya’s President William Ruto and UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan in attendance.
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The agreement, which is set to streamline trade procedures, promote industrialization, and encourage investment, is expected to significantly enhance Kenya’s export potential. Key sectors such as meat products, fruits, vegetables, cut flowers, tea, and coffee are poised to see more than a threefold increase in exports to the UAE.
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Additionally, the CEPA opens doors for the UAE to invest in Kenya’s key sectors, including energy, water, agriculture, health, airports, logistics, and ICT. This partnership aligns with Kenya’s strategic goal of boosting foreign direct investment, reducing borrowing, and fostering public-private sector collaboration.
The agreement marks a new chapter in Kenya-UAE relations, positioning both countries for greater economic cooperation and growth.
