Kenya To Boost Global Trade Expertise Through UAE’s Development Platform

The Ministry of Economy recently unveiled that Kenya has joined the United Arab Emirates' Trade for Development platform, a significant move announced by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, at the World Trade Organization’s (WTO) 13th Ministerial Conference held in Abu Dhabi in February. This platform is designed to bolster inclusive, sustainable trade and utilize it as a lever for global economic growth and prosperity.

Dr. Al Zeyoudi emphasized the UAE's dedication to expanding trade relations and its accumulated wealth of experience in trade negotiations. He highlighted Kenya's addition to the platform as a step towards empowering its policymakers and trade officials with top-tier expertise. This initiative aims at facilitating Kenya's integration into the global economy, speeding up its development, and improving living standards for its citizens.

The Trade for Development platform is a technical assistance program by the UAE, offering an array of online tools to aid officials from developing and least developed countries in building necessary technical capacities for negotiating complex trade agreements. The initiative addresses the critical challenge of limited resources and expertise that hinders effective participation in the global economy and the multilateral trading system.

Featuring a virtual library with contributions from global trade and policy experts, the platform provides curated online courses and self-learning resources. These cover essential aspects of trade agreements such as customs and trade facilitation, rules of origin, trade in services, IP rights, and dispute settlement. It stands as a perpetual resource for officials from developing nations to enhance their trade policy formulation and negotiation capabilities.

The inclusion of Kenya marks a significant milestone in the growing trade and investment ties between Kenya and the UAE. In 2023, bilateral non-oil trade between the two nations reached US$3.1 billion, marking a 26.4% increase from the previous year. Kenya's economy is among the most vibrant in Africa, with a real GDP growth of 5% in 2023 and an anticipated growth rate of 4.5% to 5.2% in 2024.

Kenya becomes the ninth country to gain access to this innovative platform, joining eight other nations that were invited at its launch during the WTO’s biannual meeting. These countries include Ethiopia, Mozambique, Antigua and Barbuda, Azerbaijan, Uzbekistan, Comoros, Kyrgyzstan, and Barbados. This expansion reflects the UAE's commitment to fostering global economic integration and development through strategic partnerships and knowledge sharing.

With inputs from WAM