In a momentous declaration, Kenya and the United Arab Emirates (UAE) have announced their commitment to bolstering trade, investment, and economic collaboration between the two nations to unprecedented levels.
The cornerstone of this groundbreaking development is the Kenya—UAE Comprehensive Economic Partnership Agreement (CEPA), a bilateral instrument meticulously crafted to streamline trade procedures, bolster investor confidence, promote digital commerce, and foster synergies between the public and private sectors.
"I'm glad to have led the Kenyan delegation with my counterpart, the Minister of State for Foreign Trade of the United Arab Emirates, Thani bin Ahmed Al Thani Al Zeyoudi, ably leading the UAE team," remarked Rebecca Miano, Cabinet Secretary for the Ministry of Investments, Trade & Industry, underlining the collaborative effort that underpins this historic agreement.
Miano's entourage included the Principal Secretary in the Trade and Industry Ministry Alfred Ombudo K’Ombudo and the chair of the Presidential Council of Economic Advisors David Ndii.
On his part, K'Ombudo stated that the UAE is a $415 billion market with strong possibilities for exporting horticulture, meat, meat products, and services.
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"Equally, the CEPA provides investment and export opportunities in Kenya for UAE."
"We look forward to completing commencement procedures for this Kenya—UAE CEPA," he added.
This agreement is poised to unlock a myriad of opportunities, not only for Kenya but also for the wider region, by facilitating smoother transactions, easing regulatory hurdles, and cultivating an environment conducive to sustained economic growth and development.
At its core, the CEPA represents a shared commitment by both nations to forge stronger bonds of cooperation and understanding, transcending geographical boundaries to embrace the principles of inclusivity and mutual benefit.
The Kenya—UAE Comprehensive Economic Partnership Agreement is a testament to the two nations' unwavering dedication to fostering economic prosperity and sustainable development.
With an emphasis on enhancing investor confidence and promoting digital trade, the CEPA stands as a testament to the transformative potential of strategic partnerships in today's interconnected world.
As the details of the agreement continue to unfold, it is evident that Kenya and the UAE are poised to chart a new course towards a future characterized by increased collaboration, innovation, and prosperity.