Ministers and officials stress the importance of the economic partnership agreement with Kenya to expand the scope of partnerships
Abu Dhabi, January 15 / WAM / Emirati ministers and officials stressed the importance of the Comprehensive Economic Partnership Agreement that was signed between the UAE and the Republic of Kenya, stressing that the agreement represents a strategic milestone for strengthening bilateral relations between the two countries, and opening new horizons for economic, trade and investment cooperation in various vital sectors.
They stressed that this agreement comes in line with the vision of the wise leadership of the UAE, to expand the scope of sustainable economic partnerships with emerging markets with promising potential, which supports the process of economic development and enhances the country’s competitiveness at the regional and global levels.
The officials indicated that the agreement provides a platform to enhance trade and investment flows, contributes to diversifying the national economy, and increasing access to new markets. They also highlighted the pivotal role that the agreement can play in supporting joint cooperation in strategic sectors such as clean energy, logistics services, and food security. and technology, to enhance sustainable development and open new horizons for growth and prosperity in the two countries.
His Excellency Mohammed bin Hadi Al Husseini, Minister of State for Financial Affairs, stressed that by concluding the Comprehensive Economic Partnership Agreement with Kenya, the UAE continues to place trade at the heart of its long-term growth strategy, noting that the UAE was able during the year 2023 to record new record results for foreign trade. of non-oil commodities, and the Comprehensive Economic Partnership Agreements will continue to contribute to maintaining that trade momentum in the coming years.
His Excellency added that by working with a stable, growth-focused country like Kenya, which is a major gateway to a very important region in eastern Africa, the UAE can look forward to increased trade flows, strategic investments, and accelerated growth in high-potential sectors such as energy, logistics, food production, and technology, all of which will help achieve our goal of doubling GDP by 2030.
For his part, His Excellency Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Infrastructure, said that the Comprehensive Economic Partnership Agreement between the UAE and Kenya represents a very important development, as it creates a promising trade and investment corridor between the Gulf and East Africa regions and enhances the growing relations between the two countries.
He added that while the UAE is considered a center for trade and investment, Kenya is one of the most important economies in Africa, stressing the keenness to develop these relations in various fields, especially infrastructure, energy, logistics and transportation, and in order to strengthen bilateral relations, we previously held a partnership within the energy sector. Renewable.
His Excellency explained: “We provide financial and technical assistance to generate wind, solar, geothermal and hydroelectric energy, which represent about 90% of the total production capacity in Kenya. We also see many promising prospects within the logistics sector in Kenya, especially its ability to provide a gateway to Africa through its ports.” We look forward to cooperating through this partnership to contribute to building a new, promising future for the Kenyan economy.”
For his part, His Excellency Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, said that the agreement is in line with the vision of the wise leadership to enhance communication and cooperation and expand global partnerships. It contributes to diversifying the economy, enhancing its growth, and increasing the country’s trade and investment partners around the world. The conclusion of the agreement opens new paths for the industrial sector. In the country, they pointed out that Kenya is an emerging economy with promising potential, and an important gateway to an ambitious region rich in opportunities that has historical trade relations with the Arabian Gulf region.
He added that the agreement enhances the arrival of UAE industrial exports to Kenya, which supports the goals of the National Strategy for Industry and Advanced Technology, “Project 300 Billion.” The manufacturing sector in Kenya has also witnessed significant development in recent years, in addition to logistical capabilities, which will provide new opportunities to enhance industrial and technological investments. And opening new markets for Emirati industries, especially in the food production, information and communications technology, and infrastructure sectors.
His Excellency explained that the agreement with Kenya will enhance economic development efforts and open new markets for the private sector in the two countries. This agreement builds an important bridge to one of the promising global growth regions in the coming decades.
In turn, His Excellency Abdullah bin Touq Al Marri, Minister of Economy, confirmed that the Comprehensive Economic Agreements Program continues its vital role in enhancing the growth of the UAE economy and supporting its competitiveness at the regional and global levels, since its launch at the end of 2021 as part of the 50 projects.
He said, “Today we are witnessing a new station to enhance the UAE’s trade and investment exchanges in the East African region through the signing of the Comprehensive Economic Partnership Agreement between the UAE and Kenya. This partnership will provide a vital economic and trade corridor between the Middle East region and emerging economies in the East African region, thus consolidating the UAE’s position as a gateway.” For the flow of global trade, and supports its vision towards enhancing economic openness to regional and international markets, in line with the directives of the wise leadership.
His Excellency pointed out that Kenya enjoys promising prospects for growth and economic stability, noting that this agreement will provide a vital platform for concluding new partnerships aimed at advancing investments in advanced economic sectors, and starting a promising era of opportunities for the business communities in the two friendly countries.
For his part, His Excellency Mohammed Hassan Al Suwaidi, Minister of Investment, said that the UAE continues, in implementation of the vision of our wise leadership, to expand the scope of its global economic presence by concluding strategic partnerships with high-growth economies around the world, pointing out that the signing of the Comprehensive Economic Partnership Agreement with Kenya represents a milestone. A new mission in this direction.
His Excellency added that Kenya is considered one of the most promising economies in Africa, as it has achieved strong growth and has an increasingly diversified economy, and the agreement with Kenya contributes to increasing investment flows in the sectors of infrastructure, renewable energy, agriculture and tourism, in addition to the sectors of information technology, communications, logistics services, mining and retail trade. Pointing to confidence in the ability of this partnership to achieve promising benefits for the two countries, which represents a platform for long-term sustainable economic cooperation.
For her part, Her Excellency Dr. Amna bint Abdullah Al Dahhak, Minister of Climate Change and Environment, said that the signing of the Comprehensive Economic Partnership Agreement between the UAE and Kenya is an important achievement for the two friendly countries, as it provides a huge range of mutual opportunities and contributes to supporting vital sectors such as food security, energy transformation and logistics services.
She added that agriculture is considered an essential part of the Kenyan economy, as it constitutes about a quarter of the gross domestic product, and in recent years we have witnessed the emergence of a group of emerging companies in the field of agricultural technology that help modernize the sector, advance it and prepare it for the future, and provide ambitious new ideas in irrigation, vertical agriculture and energy. Solar technology, e-commerce, and financial technology provide promising opportunities for investment and knowledge exchange, and also help achieve the UAE’s goals in the field of food security.
For his part, His Excellency Sheikh Shakhbut bin Nahyan Al Nahyan, Minister of State, stressed that the agreement constitutes an important milestone in the process of friendly relations between the two countries. It also represents a qualitative platform for strengthening ties with the East African region as a whole, and will undoubtedly contribute to increasing the volume of trade and will advance investment in sectors. Fundamentals such as agriculture, technology and tourism, as the agreement will establish a new partnership between two high-growth economies, which will generate new opportunities and mutual benefit for the two countries and their friendly peoples, and stimulate the flow of investments in related sectors. Priority.
He added that the agreement embodies the UAE’s commitment to deepening its relations with the African continent, its countries and its people to achieve prosperity and sustainable economic growth, as the continent is an important center for global economic growth in the coming decades.
For his part, His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, confirmed that the conclusion of the Comprehensive Economic Partnership Agreement between the UAE and Kenya opens a new chapter of long-term cooperation and partnership between two vital commercial centers in two of the fastest growing regions in the world, noting that the partnership with Kenya is… An important milestone in the journey of the Global Economic Agreements Program, which reflects the breadth of the scope and ambition of this program in creating mutually beneficial trade and investment partnerships with international partners who possess the same ambition and desire to Openness to global markets such as the UAE.
He added that this promising partnership is based on a solid foundation of trade prosperity, as intra-oil non-oil trade exceeded $3.1 billion in the first nine months of 2024, achieving a record growth of 29.1% compared to the same period in 2023.
His Excellency said that given the importance of Kenya to the trade movement in the East African region, in addition to its possession of promising economic sectors that include agriculture, food production and mining, there are broad prospects for achieving mutual benefit from this agreement in areas with high potential such as logistics services, travel, tourism, infrastructure, and information and communications technology. Enormous benefits will be achieved from this agreement for the business communities and economies of the two friendly countries, and its positive impact will continue for many years to come.
In turn, His Excellency Ahmed bin Ali Al Sayegh, Minister of State, said that the agreement with Kenya confirms the ambitious visions of the UAE and the desire to support progress, sustainable and comprehensive development and prosperity among emerging economies, as the East African region will become a center of growth and opportunities in the coming decades, and it offers a range of investment opportunities. Of mutual benefit to the private sector which this Comprehensive Economic Partnership Agreement will be able to achieve.
His Excellency added that the UAE has already helped create platforms for small and medium enterprises throughout the region, and this agreement will accelerate those efforts, provide a huge range of opportunities for emerging companies, and enhance the UAE’s position as a supporter of the private sector.
For his part, His Excellency Khaled Mohammed Balamai, Governor of the Central Bank of the United Arab Emirates, said that the UAE, thanks to the directives of the wise leadership, is adopting an open economic approach that relies on expanding the scope of partnerships with countries and global economic, commercial and financial centers to build the best and most active economy in the world, with the aim of enhancing the flexibility of the national economy. Ensuring the flow of basic goods and services, providing new markets for the business sector in various sectors, increasing trade and investment exchanges, and strengthening the UAE’s position among the most important global economic centers.
He added that the Comprehensive Economic Partnership Agreement with Kenya will constitute another important step in this path, as it works to activate the potential for cooperation with a rapidly developing region such as East Africa, noting that, based on the fact that the UAE is considered a model of financial and monetary stability, and building an effective financial system, it allows… The economic partnership agreement between the UAE and Kenya provides broad opportunities for the two countries to enhance cooperation and joint work in the financial services sector, in a way that achieves the common interests of the two friendly countries.
For his part, His Excellency Ahmed Abdullah bin Lahej, Director General of Customs and Port Security at the Federal Authority for Identity, Citizenship, Customs and Port Security, said: The agreement will create a platform to increase the trade flow of goods and services in both directions, and will bring great benefits to the two countries, as it will launch a new prosperous era of trade exchange between the UAE and Kenya. In particular, and between the Arabian Gulf and East Africa regions in general.
For his part, His Excellency Abdullah Mohammed Al Basti, Secretary General of the Executive Council of the Emirate of Dubai, stressed that the agreement represents an important step within the UAE’s efforts to build trade and investment partnerships that enhance mutual interests with countries with common aspirations and visions around the world, as Kenya stands out as one of the most important and promising economies in the world. East Africa is a vital strategic gateway to a region with enormous growth potential in the coming decades.
His Excellency added that, historically, East Africa has been a vital region for investments, especially in the areas of logistical infrastructure, communications, information and communications technology, and food security. We in the UAE and Dubai look forward to exploring and activating more of these opportunities in the next stage, as this agreement paves the way for establishing a qualitative partnership that can accelerate… Development in vital sectors and ensuring sustainable growth for both countries.
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