UAE and Kenya Forge Stronger Ties with Comprehensive Economic Partnership Agreement

 In a landmark ceremony held at Qasr Al Bahr in Abu Dhabi, President His Highness Sheikh Mohamed bin Zayed Al Nahyan of the UAE and His Excellency Dr. William Samoei Ruto, President of Kenya, witnessed the signing of the UAE-Kenya Comprehensive Economic Partnership Agreement (CEPA). The agreement marks a significant step in strengthening trade, investment, and cooperation between the two nations, unlocking new opportunities across the Middle East and Africa.

A Vision for Deeper Economic Ties

His Highness Sheikh Mohamed bin Zayed Al Nahyan lauded the CEPA as a reflection of the UAE's commitment to fostering robust economic partnerships with Africa. He emphasized the agreement’s potential to boost bilateral trade and investment, particularly in key growth sectors such as agriculture, retail, healthcare, financial services, technology, and tourism.

"Through this agreement, we aim to foster innovation, drive sustainable growth, and create new avenues for development, further strengthening our ties with Kenya and the African continent," His Highness stated.

Kenya’s Perspective on Economic Collaboration

President Dr. William Samoei Ruto expressed his gratitude for the UAE’s dedication to enhancing bilateral relations, highlighting the agreement as a pivotal moment in their shared economic journey. "This CEPA is a game-changer for our nations, laying the foundation for mutual growth and prosperity," he noted.

Expanding Trade and Investment

Signed by His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and His Excellency Dr. Musalia Mudavadi, Kenya’s Prime Cabinet Secretary and Cabinet Secretary for Foreign and Diaspora Affairs, the CEPA promises to:

• Deepen supply chain integration and enhance market access across both regions.
• Accelerate investment flows into promising sectors such as ICT, banking, tourism, infrastructure, and renewable energy.
• Strengthen trade in goods and services, reducing barriers and creating opportunities for private sector growth.

Economic Growth and Future Prospects

The agreement builds on the impressive growth of UAE-Kenya economic ties, with non-oil trade reaching US$3.1 billion in the first nine months of 2024, a 29.1% increase from the same period in 2023. Kenya's dynamic economy, with a real GDP growth rate of 5.6% in 2023, offers fertile ground for expanded collaboration, particularly in its thriving services sector, which constitutes 53.6% of GDP, and its agriculture sector, which represents a quarter of its economy.

UAE's Broader Economic Vision

As part of the UAE’s ambitious plans to double its economy to over US$800 billion by 2030, foreign trade remains a cornerstone of its strategy. By strengthening ties with high-potential markets such as Kenya, the UAE continues to cement its position as a global trade and investment hub.

A Future of Shared Prosperity

The UAE-Kenya CEPA represents more than just an economic milestone—it’s a testament to the power of collaboration, innovation, and shared vision. With this agreement, both nations are poised to create sustainable growth pathways that will benefit businesses and citizens for years to come.

This historic partnership not only solidifies economic ties between the UAE and Kenya but also sets a precedent for fostering mutually beneficial relationships between the Middle East and Africa.