UAE Signs Comprehensive Trade Agreements with Kenya, Malaysia

The United Arab Emirates (UAE) has recently signed Comprehensive Economic Partnership Agreements (CEPAs) with Malaysia and Kenya, enhancing trade and investment ties as part of its post-oil economy strategy. The UAE-Malaysia CEPA aims to deepen cooperation in high-growth sectors and streamline trade procedures, with bilateral trade reaching $4.9 billion in 2023. Meanwhile, the UAE-Kenya CEPA is noted as a historic step, marking the first such agreement with a mainland African country, and is expected to unlock significant trade opportunities, with bilateral trade surpassing $3.1 billion in the first nine months of 2024. Both agreements emphasize reducing tariffs and enhancing market access, aligning with the UAE's goal to become a strategic hub for trade in various regions. UAE Minister of State for Foreign Trade, Thani Al Zeyoudi, highlighted the importance of these agreements in supporting supply chains and boosting economic growth. The partnerships reflect the UAE's commitment to diversifying its economy and fostering sustainable economic development.