Cabinet finally approves Kenya-UAE trade pact
By Barack Oduor |
Ruto said in keeping with the aspirations of his administration, they approved the pact to increase and effect accessibility of Kenyan products to the UAE market.
Kenyan traders eying the United Arab Emirates (UAE) market with their goods have gotten a boost after the cabinet finally approved a partnership agreement between the two countries.
President William Ruto in a cabinet session chaired on Thursday okayed the partnership upon imploring the benefits the pact will bring to Kenya.
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Through a cabinet dispatch released by after the meeting, Ruto said they approved the pact to increase and effect accessibility of Kenyan products to the UAE market.
"In keeping with the administration's commitment to enhance access to foreign markets, the Cabinet considered and approved the Kenya –United Arab Emirates (UAE) Comprehensive Economic Partnership Agreement. Once the treaty is ratified by Parliament, Kenyan products including tea, meat, fruits, vegetables, and cut- flowers will have preferential market access to the United Arab Emirates (UAE)," said Ruto in the statement.
Trade CS Rebecca Miano exuded confidence that Kenya will stand to benefit immensely when Parliament finally ratifies the agreement.
"I am happy that the Cabinet considered and approved the Kenya- United Arab Emirates (UAE) Comprehensive Economic Partnership Agreement," said Miano.
Trade Cabinet Secretary Rebecca Miano. Photo: Trade Ministry Communications
In February this year, Miano and UAE's Minister for State of Foreign Trade Thani' bin Ahmed Al Zeyoudi signed the agreement.
The pact that was seen by the Eastleigh Voice read, "We, ministers Al Zeyoudi, and Miano are pleased to announce the successful conclusion of technical negotiations for Phase I of the UAE-Kenya Comprehensive Economic Partnership Agreement (CEPA)."
The agreement explains that the UAE-Kenya CEPA will deepen trade relations and enhance investment flows between the two countries by improving market access for services, removing unnecessary trade barriers, and providing new opportunities for economic and technical cooperation.
It goes further to indicate that the UAE and Kenya will also engage with the East African Community (EAC) Secretariat to create further market access to goods on a broader, regional basis.
"The conclusion of Phase I of the UAE-Kenya CEPA negotiations is a significant milestone that reflects the strong bilateral relationship and longstanding friendship between the two nations," reads the pact.
Miano has been spearheading Kenya's bid to deepen her trade ties. In July, she led the country in enforcing a trade deal with the European Union after a decade of negotiations, opening up the domestic market for tax-free goods from the 27-country bloc after 25 years.
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