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1/21/25, 3:11 PM UAE's Comprehensive Economic Partnership Agreements: A path to enhanced global trade in 2025 - Economy Middle East

Kenya’s economy and its potential within the Comprehensive Economic Partnership Agreements
Dr. William Samoei Ruto, president of Kenya, expressed his appreciation to His Highness Sheikh Mohamed bin
Zayed Al Nahyan for his dedication to strengthening ties between the UAE and Kenya. He characterized the
CEPA as a significant advancement in their economic relations and reaffirmed Kenya’s eagerness to achieve its
mutual goals for the benefit of both nations. The UAE-Kenya CEPA was signed by His Excellency Dr. Thani bin
Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and His Excellency Dr. Musalia Mudavadi, Prime
Cabinet Secretary and Cabinet Secretary for Foreign and Diaspora Affairs of Kenya.
Kenya’s economy, one of the most promising in Africa, recorded real GDP growth of 5.6 percent in 2023, with
projections indicating it will average 5.2 percent between 2024 and 2026. Its services sector, which constitutes
53.6 percent of Kenya’s GDP, along with its agriculture sector, which accounts for around 25 percent of national
GDP, presents vast potential for UAE businesses seeking to expand into the region.

UAE New Zealand CEPA

Comprehensive Economic Partnership Agreement with New Zealand and its implications
On the same Tuesday, the UAE also signed a CEPA with New Zealand at the Abu Dhabi National Exhibition
Centre (ADNEC). This CEPA aims to enhance bilateral trade and create new investment opportunities. The UAE-
New Zealand CEPA builds on the strengthening economic relations between the two nations, with bilateral non-
oil trade reaching $642 million in the first nine months of 2024—an 8 percent increase compared to the same
period in 2023. Under the CEPA, New Zealand will provide 100 percent duty-free access for imports from the
UAE, while the UAE will extend duty-free access to 98.5 percent of New Zealand’s products, increasing to 99
percent within three years. This agreement is anticipated to elevate bilateral trade to $5 billion by 2032, essentially
tripling the five-year average trade of $1.5 billion shared between the UAE and New Zealand from 2019 to 2023.

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