A New Era of Collaboration as UAE and Kenya Formalize Economic Partnership

Sheikh Mohamed bin Zayed Al Nahyan who is a President of the UAE and Dr. William Samoei Ruto who is a President of Kenya signed the UAE-Kenya Comprehensive Economic Partnership Agreement (CEPA) at Qasr Al Bahr in Abu Dhabi. This agreement is designed to enhance trade and investment links, strengthen supply chains and improve market access between the Middle East and Africa.

Strengthening Ties for Mutual Benefit:

Sheikh Mohamed said that CEPA would be an example of UAE commitment to a fruitful economic coordination across Africa with the development of new business and investment opportunities. 

He further stated that this agreement will help to boost trade, investment and promote innovation and sustainability growth in such strategic sectors as agriculture, retail, healthcare, financial services, technology and tourism.

Dr. William Samoei Ruto thanked Sheikh Mohamed bin Zayed Al Nahyan for his dedication to improve the relations between the UAE and Kenya. He also mentioned Kenya’s determination to fulfil its objectives for the benefit of both countries and he also said that the CEPA is an important growth in their economic ties.

The UAE’s economic goal is focused on foreign commerce which is also a key component of the country’s aspirations to double its GDP to over US$800 billion by the end of the decade.

Expanding Economic Opportunities:

The CEPA was also signed by Dr. Thani bin Ahmed Al Zeyoudi who is an UAE Minister of State for Foreign Trade and Dr. Musalia Mudavadi who is Kenya’s Prime Cabinet Secretary. The CEPA aims to accelerate investments in high potential sectors such as ICT, banking, tourism, infrastructure and renewable energy.

Kenya is considered as one of the most promising economies in Africa because it experienced a GDP growth of 5.6 percent in 2023, it has also been proven by the bilateral non-oil trade which reached USD 3.1 billion in the first nine months of 2024 i.e a 29.1 percent increase from the same period in 2023.