The government has endorsed a trade agreement with the UAE in yet another significant deal aimed at expanding its global economic footprint.
The Kenya-UAE Economic Partnership Agreement was considered and approved by the cabinet.
It is part of the government's commitment towards enhancing access to foreign markets.
The two countries concluded early this year negotiations for the initial phase of the agreement.
"We are pleased to announce today the successful conclusion of technical negotiations for Phase I of the UAE-Kenya Comprehensive Economic Partnership Agreement (CEPA)," a joint communique dated February 22 reads.
It was signed by Trade Cabinet Secretary Rebecca Miano and her UAE counterpart Thani bin Ahmed Al Zeyoudi.
Parliament is now set to debate and approve the document for it to come into force.
If ratified, the treaty will see Kenyan products including tea, meat, fruits, vegetables, and cut flowers have preferential market access to the UAE.
"It is set to deepen trade relations and enhance investment flows between the two countries by improving market access for services," it states.
It will also remove unnecessary trade barriers while providing new opportunities for economic and technical cooperation.
As part of the negotiations, the two countries will also engage with the East African Community (EAC) Secretariat to create further market access to goods in the region.
Miano has noted that the conclusion of the talks reflects the strong bilateral relationship and longstanding friendship between the two nations.
"The CEPA also represents the shared commitment by the UAE and Kenya to achieving greater economic progress for peoples and business communities in both nations," she said.
The Kenya-EU partnership agreement came into force on July 1.
It provides duty-free, quota-free EU market access to all exports from Kenya as soon as it enters into force, as well as partial and gradual opening of the Kenyan market to imports from the EU.
According to the Economic Survey 2023, EU was Kenya's second-largest export market in 2022 accounting for Sh133.2 billion in revenues, a 15 percent increase from Sh115.8 billion in 2021.
