The Head of State and the Kenyan President witness the signing of a comprehensive economic partnership agreement between the two countries

Today, at Al Bahr Palace in Abu Dhabi, His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State, may God protect him, and Dr. William Samoi Ruto, President of the Republic of Kenya, witnessed the signing ceremony of the Comprehensive Economic Partnership Agreement between the UAE and Kenya, which aims to strengthen trade and investment relations between the two countries, in addition to improving… Access to markets in the Middle East and East Africa regions.

His Highness Sheikh Mohammed bin Zayed Al Nahyan said on this occasion that the agreement confirms the UAE’s commitment to strengthening economic ties and expanding its development partnerships with the African continent, which is an important development partner, in addition to creating new opportunities for cooperation between the two countries.

His Highness pointed out that the Comprehensive Economic Partnership Agreement contributes to enhancing trade and investment and supports innovation and sustainable growth in key sectors such as agriculture, healthcare, financial services, technology, tourism, and others.

For his part, Dr. William Samoi Ruto, President of the Republic of Kenya, expressed his appreciation for the keenness of His Highness Sheikh Mohammed bin Zayed Al Nahyan to strengthen relations between the two countries, stressing that the Comprehensive Economic Partnership Agreement represents a qualitative leap in economic relations between the two countries, as Kenya is keen to achieve its desired goals. In the interest of common development.

The Comprehensive Economic Partnership Agreement was signed by Dr. Thani bin Ahmed Al-Zeyoudi, Minister of State for Foreign Trade, and Dr. Musalia Mudavadi, Prime Minister and Minister of Foreign Affairs and Expatriates of Kenya.

It is noteworthy that the cooperation relations between the UAE and Kenya are witnessing continuous growth, as bilateral non-oil trade exceeded $3.1 billion during the first nine months of 2024, with a record growth of 29.1 percent compared to the same period in 2023.

Meanwhile, Kenya’s economy – one of the most promising economies in Africa – witnessed an acceleration in real GDP growth from 4.8% in 2022 to an estimated 5% in 2023.

Real GDP is expected to grow between 4.5% and 5.2% in 2024. Along with other sectors, the services sector, which represents 53.6% of Kenya’s GDP, and the agriculture sector, which accounts for about a quarter of the national GDP, provide Great potential for Emirati companies looking to expand in the region, and the agreement will accelerate investment flows in high-potential sectors such as information and communications technology, banking, tourism, infrastructure and renewable energy.

The Comprehensive Economic Partnership Agreements Program aims to expand the country’s network of trade and investment partners around the world, with the aim of achieving national targets of reaching the UAE’s non-oil trade to four trillion dirhams and the country’s exports of goods to 800 billion dirhams by 2031.