What's Hot

    Acasia Ventures invests in Nigerian delivery platform Fez

    March 31, 2023

    DP World to develop edible oil terminal in Berbera Port

    March 30, 2023

    HouseAfrica raises USD 400,000 in funding

    March 29, 2023
    Gulf Africa ReviewGulf Africa Review
    • Industry
    • Infrastructure
      1. Airport
      2. Hospitality
      3. Ports
      4. Power
      5. Rail
      6. Roads
      7. Transport
      Featured

      Osun seeks to capitalise on infrastructure momentum

      Infrastructure May 21, 2018
      Recent

      DP World to develop edible oil terminal in Berbera Port

      March 30, 2023

      KarmSolar receives USD 3 million to develop Farafra Solar Grid

      January 11, 2023

      AD Ports Group reports strong growth

      January 3, 2023
    • Business & Trade
      1. Agri-Business
      2. Entrepreneurship
      3. FDI
      4. Legislative
      5. MEA
      6. Telecoms
      7. Properties
      Featured

      Analysts predict bullish future for Nigeria’s REITs market

      Business Business & Trade January 21, 2018
      Recent

      Free trade: Qatar and Morocco conclude second round of talks

      January 31, 2023

      Gold-for-oil: Ghana attempts to address forex pressures

      January 18, 2023

      AD Ports Group reports strong growth

      January 3, 2023
    • Finance
      1. Banking
      2. Islamic finance
      Featured

      South Africa’s Fin acquires Thuthukani

      Banking Business Finance March 24, 2023
      Recent

      South Africa’s Fin acquires Thuthukani

      March 24, 2023

      Fintech dominates African startup funding

      February 15, 2023

      Social investment platform InvestSky raises USD 3.4 million

      January 12, 2023
    • Innovation
    Gulf Africa ReviewGulf Africa Review
    Business & Trade

    Kenya and UAE begin talks on Comprehensive Economic Partnership Agreement

    July 29, 20223 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Kenya
    Agriculture represents a major economic driver of Kenya's economy.
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Kenya and the UAE have begun discussions around the creation of an agreement to bolster trade and investment.

    Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Betty Maina, Cabinet Secretary, Ministry of Industrialization, Trade and Enterprise Development of Kenya, have signed a joint statement in Nairobi announcing the beginning of negotiations to form a Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Kenya. The signing took place at the UAE’s embassy in Nairobi.

    Boosting bilateral trade

    When officially introduced, the CEPA will be the first bilateral trade agreement signed between the UAE and an African state. The agreement seeks to boost trade and investment between the UAE and Kenya. One of the key aims of the agreement is to boost non-oil bilateral trade between the two states. Non-oil trade between Kenya and the UAE stood at USD 2.3 billion in 2021.

    In an effort to boost non-oil trade, trade barriers on a series of goods and services will be eliminated, with the intention of creating new markets and opportunities for exports and imports within both countries. The Kenyan government is thought to be particularly eager to make use of the UAE’s strategic location and strong infrastructure in order to reach new markets.

    “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: The strongest economy in East Africa

    Kenya’s economy is the largest in East Africa and is predicted to grow by 5.5% this year. 2021 saw growth of 7.5% and the slowdown has been attributed to pressures on global markets. The country’s financial services sector is growing quickly, and its manufacturing industry is performing well, though tourism and agriculture remain among its strongest sectors.

    Talks regarding the CEPA will begin in the coming months, according to a ministerial statement. The UAE has signed three such agreements this year, with India, Israel and Indonesia. The CEPAs are part of the UAE’s “Projects of the 50” plan, which aims to cement the UAE’s position as a global business hub.

    Abu Dhabi recently signed an agreement designed to boost trade with West African states.

    CEPA kenya trade UAE
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleDP World’s Imperial increases stake in Botswana’s PST Sales & Distribution
    Next Article IsDB: Islamic Development Bank Group announces USD 10.54 billion package to address food security

    Related Posts

    Business Infrastructure Ports

    DP World to develop edible oil terminal in Berbera Port

    March 30, 2023
    Business Startups

    Tibu Health closes oversubscribed pre-Series A round

    March 27, 2023
    Business Startups

    almentor raises USD 10 million in pre-Series C round

    March 20, 2023
    Add A Comment

    Leave A Reply Cancel Reply

    LATEST STORIES

    Acasia Ventures invests in Nigerian delivery platform Fez

    March 31, 2023

    DP World to develop edible oil terminal in Berbera Port

    March 30, 2023

    HouseAfrica raises USD 400,000 in funding

    March 29, 2023

    Kenyan VC firm Factor[e] Ventures launches venture studio

    March 28, 2023

    Tibu Health closes oversubscribed pre-Series A round

    March 27, 2023
    • Business
      • Agri-Business
      • Entrepreneurship
      • FDI
      • Legislative
      • MEA
      • Properties
      • Telecoms
    • Infrastructure
      • Airport
      • Hospitality
      • Ports
      • Power
      • Rail
      • Roads
      • Transport
    • Finance
      • Banking
      • Islamic finance
    • Commodities
      • Agri commodities
      • Metals & minerals
      • Precious metals
    • Culture & Society
      • Education
      • Energy
    GAR logo
    © GulfAfricaReview.com 2014-2022, All Rights Reserved.

    Gulf Africa Review is a trade news and future networking platform for businesses leaders and trade organisations, established to first inform and secondly assist in facilitating the ongoing business and trade relations between the Gulf Cooperation Council countries and Sub-Saharan Africa. We aim to provide an apolitical voice for this channel of economic activity in a way that benefits both geographies by improving the availability of information about market events, developments and opportunities, while publicising the successes achieved by this ever-broadening regional relationship.

      Subscribe to our newsletter

      Type above and press Enter to search. Press Esc to cancel.