International trade between Kenya and the middle East to grow as Kenya National Chamber of Commerce and Industry (KNCCI) secures an office space in Sharjah. The office was received by the Chamber President Mr. Richard Ngatia from the Chairman of Sharjah Chamber of Commerce and Industry (SCCI) Abdullah Sultan Al Owais during a handing over ceremony that was conducted yesterday at the Dubai Expo 2020 Dubai Pavilion. The Chamber President was accompanied by the Cabinet Secretary Industrialization, Trade and Enterprise Development H.E Betty Maina and other high-level dignitaries.
This follows deliberations between Sharjah Chamber of Commerce and Industry (SCCI) and the Kenya Chamber of Commerce in February 2021, to open a KNCCI liaison office in the Emirates in order to enhance bilateral relations and support business communities in the two countries.
Opening of the subsidiary KNCCI office will help underpin the strong relations between Sharjah and Kenya. Sharjah companies play a pivotal role in enhancing the bilateral economic cooperation by making use of the enormous opportunities for investment in Kenya, especially in the agriculture, infrastructure, and energy sectors.
With the upcoming Expo 2020 Dubai, the KNCCI Sharja Office will be important in hosting business meetings and networking forums as an addition space to the Kenyan Pavilion which was officially opened on Sunday 12th September,2021.
The Expo Dubai 2020 is considered to be the third-largest global event in terms of economic and cultural impact. The event attracts millions of visitors to the host nation during its six-month duration and is more likely to attract substantial foreign investment into the UAE.
In June this year, the Kenya Chamber of Commerce signed a Memorandum of Understanding (MoU) with Etihad Credit Insurance (ECI), a United Arab Emirates (UAE) Federal export credit company. The MOU will boost economic cooperation between the UAE and Kenya by stimulating international trade and investment flows. This is in addition to supporting the business communities in the two countries during the post-pandemic era.