The United Arab Emirates and Kenya signed a Comprehensive Economic Partnership Agreement (CEPA).

This agreement, the first of its kind between the Emirates and an African country, aims to boost trade and investment, create business opportunities, and strengthen economic ties across Africa.

Kenya could become a key player in the African trade landscape.

The Emirati president, Sheikh Mohamed bin Zayed Al Nahyan, and his Kenyan counterpart, William Ruto, attended the signing of the CEPA on Tuesday.

The United Arab Emirates also signed trade agreements with Malaysia and New Zealand on Tuesday, the latest in a series of bilateral agreements aimed at diversifying the Gulf state's economy and reducing its dependence on oil.

During the first nine months of 2024, non-oil bilateral trade between the United Arab Emirates and Kenya reached 3.1 billion dollars.

Kenya's economy, one of the most promising in Africa, recorded a real GDP growth of 5.6% in 2023. Projections foresee an average growth of 5.2% between 2024 and 2026.

Article source:africanews