Today: 21 June 2025
29 July 2022
2 mins read

UAE, Kenya to begin FTA talks

Through the CEPA, the UAE and Kenya aim to remove trade barriers on a wide range of goods and services, creating new opportunities for imports and exporters in both countries…reports Asian Lite News

UAE Minister of State for Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi and Kenyan Cabinet Secretary of Ministry of Industrialisation, Trade and Enterprise Development Betty Maina, signed a Joint Statement in Nairobi announcing the intention to begin negotiations towards a Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Kenya.

Dr. Khalifa Al Rayssi, Charge d’affaires of UAE Embassy in Kenya, attended the signing.

The UAE-Kenya CEPA will be the first bilateral trade deal that the UAE seeks to sign with an African nation. Such an agreement will deepen trade and investment ties between Africa and the Middle East and boost the total value of UAE-Kenya non-oil bilateral trade, which grew to US$ 2.3 billion last year.

Through the CEPA, the UAE and Kenya aim to remove trade barriers on a wide range of goods and services, creating new opportunities for imports and exporters in both countries, and enabling Kenyan companies to leverage the value of the UAE’s geographic and logistical position.

“There is tremendous opportunity for closer economic integration between our two nations, especially in agriculture, tourism, infrastructure, technology and renewable energy,” said Dr Thani Al Zeyoudi. “Announcing our intention to begin negotiations on the UAE-Kenya CEPA reflects our shared commitment to achieving greater economic progress through trade and investment. Our efforts to establish strategic economic partnerships worldwide through our CEPAs will fast-track our growth and prosperity for the next 50 years.”

Kenya’s economy, the largest in East Africa, is forecast to grow 5.5 percent this year from 7.5 percent in 2021, with the modest slowdown reflecting headwinds pressuring global markets. Tourism and agriculture remain among its most dominant sectors, although the country has a fast-growing financial services industry coupled with competitive manufacturing and ambitious plans for green technology.

High-level UAE-Kenya CEPA talks will begin in the coming months. They will follow the completion of three CEPAs this year, namely India, Israel and Indonesia, under the country’s “Projects of the 50” initiative that aims to make the UAE a global business hub.

ALSO READ:  India, France, UAE to boost maritime ties

Previous Story

 India, France, UAE to boost maritime ties

Next Story

Abha Summer Festival begins

Latest from -Top News

IAEA sounds nuclear alarm in Iran

UN nuclear watchdog urges restraint, calls for diplomacy to prevent crisis. The head of the International Atomic Energy Agency (IAEA), Rafael Grossi, has issued a stark warning about the potential nuclear fallout

Trump says it’s hard to tell Israel to stop

President downplays European diplomacy as Israeli jets strike over 35 Iranian missile sites US President Donald Trump has said it would be “difficult” to ask Israel to stop its ongoing airstrikes on

War on Children Worsens, Says UN

The new high surpassed 2023, another record year, which itself represented a 21 per cent increase over the preceding year….reports Asian Lite News Violence against children in conflict zones soared to record

US weighs joining fight with Israel

Europe’s push for diplomacy is in sharp contrast to messages from Washington, with President Trump openly weighing bombing Iran  Iran’s foreign minister will meet in Geneva with counterparts from Germany, France and

Kremlin warns US against Iran strike

Putin revealed that Moscow had proposed several compromise frameworks to all involved parties — including the US, Israel, and Iran Washington would be making a serious mistake by launching an attack on
Go toTop

Don't Miss

UAE ranks first globally in entrepreneurship

The UAE also emerged as the number one global destination

UAE mourns Lata’s demise, cultural events cancelled at India Pavilion

The demise of the legendary Indian singer has shocked the