By Our Correspondents
Worth Noting:
- The Chamber President emphasized on the opportunity for UAE investors to support the industrial capacity required for the AfCFTA implementation.
- Kenya invites investors in manufacturing plants and infrastructure development through PPPs in order to expand Kenya’s industrial capacity for international trade.
- He concluded by stating that the business forum presented an opportunity for the two chambers to build synergies and support both governments in creating an enabling trade environment between the two countries.
- SCCI Chairman Abdullah Sultan Al- Owais in his remarks noted that he was delighted to be part of the business forum and was hoping that the forum would be beneficial for both UAE and Kenya traders and will also act to bridge the trade gap between the two countries.
The Kenya National Chamber of Commerce and Industry (KNCCI) in collaboration with Sharjah Exports Development Centre (SEDC) yesterday hosted the UAE- East Africa Trade mission 2022 in its bid to enhance bilateral ties.
The main aim of the trade mission was to enhance bilateral ties between Kenya and the United Arab Emirates through SEDC which is the export promotion agency of Sharjah, an initiative of Sharjah Chamber of Commerce & Industry (SCCI).
The mission comprised of Business-to-business meetings between companies and individuals from both countries.
The Chamber President Richard Ngatia in his opening remarks appreciated the cordial partnership between KNCCI and SCCI which has seen KNCCI get accorded an office space in Sharjah.
The office will be a one- stop center for traders from Kenya and UAE to be acquainted with information on the investment outlook, trade processes, standards and procedures applicable in the two countries.
The space will greatly facilitate B2Bs and encompass a conference hall for business forums.
He stated that as the private sector, they were looking forward to the conclusion of the ongoing discussions on the United Arab Emirates-Kenya Comprehensive Economic Partnership Agreement ( UAEK-CEPA) as it will ease trade barriers.
The Chamber President emphasized on the opportunity for UAE investors to support the industrial capacity required for the AfCFTA implementation.
Kenya invites investors in manufacturing plants and infrastructure development through PPPs in order to expand Kenya’s industrial capacity for international trade.
He concluded by stating that the business forum presented an opportunity for the two chambers to build synergies and support both governments in creating an enabling trade environment between the two countries.
SCCI Chairman Abdullah Sultan Al- Owais in his remarks noted that he was delighted to be part of the business forum and was hoping that the forum would be beneficial for both UAE and Kenya traders and will also act to bridge the trade gap between the two countries.
Cabinet Secretary for Cooperatives and MSMEs Simon Chelagui who was the Chief Guest observed that Kenya is a promising place to do business with growing markets and opportunities.
“Kenya has proven to be an effective paradigm for successful cooperation among economies at different stages of economic development,” he noted.
He stated that despite the commendable contribution by MSMEs to the country’s economy, there were a number of challenges in accessing regional and international market.
As recognized in the UAE Small and Medium Enterprises (SMEs) are vital for the economic diversification and growth because they help in building national human resources.
The CS appreciated the good working relationship between KNCCI and SCCI saying MSMEs shall leverage on the partnership to strengthen business growth.
Representing the Cabinet Secretary, Ministry of Trade, Industry and Investment Oliver Konje, Director International Trade expressed his gratitude to be part of the UAE- East Africa Trade Mission, an important platform to discuss and explore opportunities of boosting business exchanges and investment between the two countries.
He acknowledged the warm and cordial relations that exist between the two countries as evidenced by continued cooperation and partnership on issues of mutual interest.
He encouraged the business associations and councils to work together to enhance business engagements between the private sector in both countries.
Kenya Investment Authority (KenInvest) Ag. Managing Director Ms. Olivia Rachier in her remarks stated that the business forum was timely coming after a long period of Covid -19 pandemic and the world is starting to reopen for international travel.
She observed that trade and investment between the two countries was highly in favor of UAE.
Kenya’s trade with UAE has been increasing over the years.in 2021, the value of Kenya’ imports from UAE were approximately USD 1.83 billion while Kenyan exports to UAE were valued about USD 315 million. She noted that this is one of the gaps that the forum should try to bridge by creating more business opportunities.
She concluded by stating that Kenya has a good business environment and it is much easier to set up and do business here and now than ever before.
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