UAE-Kenya Trade And Investment Forum In Nairobi Enhances Bilateral Economic Cooperation

The Sharjah Chamber of Commerce and Industry (SCCI), through the Sharjah Exports Development Centre, organised the UAE-Kenya Trade and Investment Forum in Nairobi. This event marked the beginning of their trade mission to Kenya and Uganda. The forum aimed to highlight investment opportunities in Sharjah and Kenya, focusing on enhancing cooperation and boosting trade between the private sectors of both nations.

Abdallah Sultan Al Owais, Chairman of SCCI, led the delegation. Key attendees included Hon. Salim Mvurya, Kenya’s Cabinet Secretary for Investments, Trade and Industry, and H.E Ronald Mero from the Kenya National Chamber of Commerce and Industry. Other notable participants were Mohamed Rashid Ali Demas, Nasir Musabeh Ahmed Al Tunaiji, Abdul Aziz Al Shamsi, alongside business leaders from both countries.

The forum provided a platform for discussions on bilateral partnerships to enhance economic cooperation between the UAE and Kenya. It facilitated connections among business communities across various sectors. One-on-one meetings between Emirati entrepreneurs and Kenyan counterparts were held, focusing on sectors like oil and gas, construction materials, infrastructure, and logistics.

In his opening remarks, Abdallah Sultan Al Owais expressed appreciation for the hospitality received during the mission. He highlighted that this forum is part of the ninth trade mission by the Sharjah Chamber to Kenya and Uganda. The event aims to strengthen economic ties between the UAE, especially Sharjah, and Kenya by fostering collaboration between their business communities.

The UAE's investments in Kenya are valued at approximately $2.38 billion, while Kenyan investments in the UAE are around $63 million. These figures reflect growing investment ties between both countries. Al Owais emphasised potential growth following Comprehensive Economic Partnership Agreement (CEPA) talks held in February 2024. This agreement is expected to enhance market access in each country.

Hon. Salim Mvurya welcomed the Sharjah Chamber delegation warmly. He praised the trade mission as a significant opportunity to explore ways to strengthen trade and investment ties between both nations. He noted that this forum occurs within a context of strong bilateral relations supported by several cooperation agreements over recent years.

Trade Growth Between UAE and Kenya

Mvurya highlighted that the UAE ranks as Kenya’s sixth-largest trade partner. Bilateral trade has grown by 169.24 percent over nine years, from 142.5 billion Kenyan shillings in 2013 to 383.68 billion shillings in 2022. He reiterated Kenya's commitment to expanding its trade cooperation with the UAE through forums like this one.

The Ministry of Investment, Trade, and Industry of Kenya is focused on promoting collaboration among business councils to strengthen commercial ties between private sectors of both countries.

This forum underscores efforts to deepen economic cooperation for mutual growth by building on existing partnerships and opening new avenues for investment.

With inputs from WAM