Page 405 - MOE ENGLISH PR REPORT - FEBRUARY 2024

2/27/24, 9:31 AM UAE, Kenya finalise terms of Comprehensive Economic Partnership Agreement | Emirates News Agency
capabilities. We look forward to its implementation and

the mutual benefits it will deliver.”

Kenya's economy, one of the most promising in Africa,

experienced real GDP growth accelerating from 4.8% in

2022 to an estimated 5% in 2023, while it is projected

that real GDP will grow between 4.5% and 5.2% in 2024.

Among others, its services sector, which accounts for

53.6 percent of Kenya’s GDP, and agriculture sector,

comprising around a quarter of national GDP, offer vast

potential for UAE businesses looking to expand into the

region.

Foreign trade remains the cornerstone of the UAE’s

economic agenda. In 2023, the UAE’s non-oil trade in

goods reached an all-time high of $710 billion, a 12.6%

increase on 2022 – and 34.7% more than 2021.

Economy United Arab Emirates (UAE) KENYA (KEN)

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