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UAE-Kenya comprehensive economic partnership agreement to bring a fresh chapter in trade relations

  The UAE and Kenya have reached a landmark agreement for a  comprehensive economic partnership agreement (Cepa) , aiming to provide further access to the rapidly developing African continent. The agreement, a “landmark” one, will focus on sectors such as food production, technology, logistics, and mining. In 2023, the non-oil trade between the two countries increased 26.4% YoY to $3.1 billion. The UAE’s Cepa programme has been successful, with deals with Mauritius and the Republic of Congo. Kenya’s real GDP increased to an estimated 5% last year, while the developing African economy is projected to achieve growth between 4.5% and 5.2% in the current year. The agreement is expected to hasten investment flows in high-potential areas like healthcare, travel, and information communications technology, as well as help small and medium enterprises expand. Kenya has also dropped visa requirements for all travelers globally, making it a popular destination for tourists. The services ...