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UAE and Kenya Sign Landmark CEPA to Strengthen Economic Ties

UAE and Kenya Sign Landmark CEPA to Strengthen Economic Ties
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President His Highness Sheikh Mohamed bin Zayed Al Nahyan and His Excellency Dr. William Samoei Ruto, President of Kenya, witnessed the signing of the UAE-Kenya Comprehensive Economic Partnership Agreement (CEPA) at Qasr Al Bahr in Abu Dhabi.

This agreement aims to bolster trade, investment, and supply chain connectivity across the Middle East and Africa.

His Highness Sheikh Mohamed emphasized the UAE’s commitment to fostering economic partnerships with Africa, noting the CEPA’s potential to drive innovation and sustainable growth in agriculture, retail, healthcare, financial services, technology, and tourism. He expressed optimism about deepening ties with Kenya and expanding developmental collaborations.

Kenyan President Dr. William Ruto hailed the agreement as a pivotal step in enhancing bilateral relations. He thanked Sheikh Mohamed for his dedication to strengthening UAE-Kenya ties, highlighting the mutual benefits the CEPA is expected to deliver.

The agreement was signed by UAE Minister of State for Foreign Trade, His Excellency Dr. Thani bin Ahmed Al Zeyoudi, and Kenya’s Prime Cabinet Secretary, His Excellency Dr. Musalia Mudavadi. It builds on a robust trade relationship, with bilateral non-oil trade reaching $3.1 billion in the first nine months of 2024—a 29.1% increase from 2023.

Kenya’s growing economy, with a 5.6% GDP growth in 2023, offers significant opportunities for UAE businesses, particularly in its services and agriculture sectors. The CEPA also aims to accelerate investments in ICT, banking, tourism, infrastructure, and renewable energy.

Foreign trade remains central to the UAE’s goal of doubling its economy to over $800 billion by 2030, with agreements like CEPA playing a vital role in achieving this vision.

News Source: Emirates News Agency

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Shahba Mayyeri

Written by Shahba Mayyeri

Shahba is a Content Creator at HiDubai with 3 years of experience in crafting compelling stories and articles. She holds a Master’s degree in Media and Communications from MAHE Dubai.
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