Kenya and the United Arab Emirates (UAE) have signed a comprehensive economic partnership agreement (CEPA), a landmark deal aimed at deepening trade and investment ties.
The long-awaited agreement was signed on Tuesday in Abu Dhabi, following delays that had stalled initial plans to finalise it in Nairobi during a planned state visit by the Emirati ruler.
The UAE-Kenya CEPA was signed by His Excellency Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and His Excellency Dr Musalia Mudavadi, Prime Cabinet Secretary and Cabinet Secretary for Foreign and Diaspora Affairs of Kenya.
This agreement builds on Kenya’s broader trade strategy, which includes key agreements such as the Kenya-EU Economic Partnership Agreement, the Kenya-UK Economic Partnership Agreement, the African Continental Free Trade Area (AfCFTA), and the African Growth and Opportunity Act (AGOA) with the United States.
It sends a clear signal to global markets of Kenya’s readiness to expand its role as a global trade partner by offering premium products and services while embracing innovation and sustainable development.
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The CEPA will also provide the UAE with investment opportunities in several sectors of the Kenyan economy, including energy, water, agriculture, health, ports, airports, logistics, human resource development, and ICT. This aligns with the Kenyan government’s policy of reducing borrowing while enhancing investment capital, foreign direct investment (FDI), and public-private partnerships.
