Today: 5 July 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

BRICS must break the digital chains

BRICS nations need to build consensus, balance innovation and social justice by reinforcing the digital sovereignty of Global South, including evenly distribution of benefits through AI, writes Baidya Bikash Basu BRICS, the

G42 AI tool boosts procurement by 40%

Abu Dhabi’s tech giant leads the charge in AI-driven operational transformation with (In)Business Procurement platform. Abu Dhabi-based global technology powerhouse G42 has taken a major leap in enterprise digital transformation with the

ADX, banks launch region’s first digital bond

Abu Dhabi Securities Exchange (ADX) has launched the pricing phase for the region’s first distributed ledger technology (DLT)-based bond, setting a new benchmark in financial innovation and blockchain integration. The bond, issued

Saudi, Indonesia seal $27bn in deals

Saudi Arabia and Indonesia deepen ties with $27bn in agreements, boosting trade, energy, defence and pilgrimage cooperation, signalling a new chapter in strategic partnership. Saudi Arabia and Indonesia inked a raft of

UN urges investments in Syria

Rebuilding Syria requires not only emergency relief but sustained investment in basic services, economic recovery, and stability, says UN Office in Syria. A high-level United Nations delegation has called for increased international
Go toTop

Don't Miss

Dubai’s 2040 Master Plan For ’20-Minute’ City

Sheikh Mohammed bin Rashid Al Maktoum has approved the second

Al Jaber calls for tech solutions to decarbonise economies

Continuing his remarks, Dr. Al Jaber noted that clean tech