Kenya’s trade with UAE set to increase to $30 billion
Saturday, June 29, 2013
Kenya has offered tremendous opportunities in a wide diversity of sectors which has been tapped upon by the United Arab Emirates (UAE) businesses.
Amb. Amina Mohamed urged the private sector to bank in on the opportunities available to drive the Kenyan economy to greater heights
Speaking at a Nairobi hotel during the UAE trade delegation meeting, Cabinet Secretary, Foreign Affairs, Ambassador Amina Mohamed said that the government will continue to play a facilitative role more effectively, by improving the enabling business environment for private sector.
She said investing in Kenya has made foreign gain from the unexploited regional market in East Africa community (EAC) and Common Market for Eastern and Southern Africa (COMESA) which will be realized as a free trade area.
“I urge our private sector to use this opportunity to control our comparative advantages in specific sectors, so that we can improve on this position, “she said adding that Kenya has undertaken major reforms which have promoted economy prosperity.
According to Amb. Mohamed, UAE selecting Kenya as their preferred investment destination, has engaged an economy that has sound macroeconomic, stable and a strong private sector which has key ingredients in business partnerships.
She further added that Kenya which is a gateway to the region and the regional hub and offers tremendous opportunities in a wide diversity of sectors which can be tapped by the United Arab Emirates businesses.
She urged UAE to look beyond the listed sectors in trade and explore other opportunities available in other various areas of the economy such as tourism and mining.
UAE Ambassador to Kenya, Abdul Razak, said that the UAE government has decided to open the biggest consulate in Kenya which will facilitate trade and provide assistance and support to Kenyan businessmen.
This was the first business forum held between the two countries in economic and commercial engagement.
Following the adoption of the devolved structures of government, Amb Mohamed further called on the Arab nation to invest in the 47 counties available as it is an untapped market through this deliberation the UAE, trade relations between Africa and the Arab nation is expected to grow to 30 Billion US Dollars.