Trade
Trade

Kenya National Chamber of Commerce and Industry (KNCCI) and the United Arab Emirates (UAE) Trade Center on Friday signed a memorandum of understanding to boost bilateral ties between Kenya and the Gulf state.

Richard Ngatia, president of KNCCI told journalists in Nairobi that under the agreement, Kenyan businesses will receive capacity building to produce globally competitive products and services.

Business24

“Kenyan firms will also be provided with a platform to leverage UAE as a logistical hub so as to access markets in the Middle East and Asia region,” Ngatia said.

He noted that despite the well-established transportation links, bilateral trade between UAE and Kenya remains below the potential.

The UAE Trade Center also pledged to help KNCCI advocate for a more favorable business and investment operating environment in Kenya so as to enhance the volumes of foreign direct investments flowing into the east African nation.

Walid Hareb, managing director of UAE Trade Center said that Kenya’s strategic location makes it a gateway for international businesses seeking to penetrate the east and central African region.

The UAE Trade Center plans to open an office in Kenya that will act as a bridge for UAE investors seeking to expand into the east African nation.

“Through our efforts, so far between 50 to 60 UAE companies have already expressed interest to explore opportunities in Kenya’s agriculture, energy, health and industrial sectors,” Hareb said.

The UAE firm also has plans to establish an online platform where Kenyan importers and exporters can get access to reliable and reputable business partners in the UAE.

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