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Is Nairobi Poised to be Africa's Next Dubai with the Recent UAE Trade Pact?


Nairobi's trajectory mirrors Dubai's transformative journey, potentially accelerated by the comprehensive economic partnership agreement (CEPA) signed between the United Arab Emirates and Kenya in February. Dubai's metamorphosis from a desert outpost to a global trade and tourism hub sets a precedent for Nairobi's future.

Years of exponential growth have solidified Dubai's status as a magnet for international professionals. Kenyan and UAE trade officials envision a mutually beneficial collaboration between the two hubs, leveraging their respective strengths under the new trade pact. This partnership not only brings Kenya closer to the economic heart of the Gulf but also opens doors to key Asian and Middle Eastern markets, as highlighted by Trade Minister Rebecca Miano.

The significance of this agreement for Kenya cannot be overstated, considering its early engagement in bilateral trade talks with the UAE. Already, Kenyan firms are eyeing opportunities in Dubai, enticed by its attractive incentives. As investment flows increase, Nairobi experiences a construction boom, epitomized by the forthcoming Africa's tallest skyscraper. This signifies the evolving trade dynamics between Kenya and Dubai, long acknowledged as the pivotal gateway linking East Africa to the global market.


Source : www.cuspakinnews.com
Posted on :4/12/2024