In a bid to bolster economic cooperation between Dubai and Kenya, the Dubai International Chamber joined hands with the Kenya National Chamber of Commerce & Industry (KNCCI) to host a trade business forum today. The event marked a significant step toward forging mutually beneficial partnerships and exploring new opportunities in the thriving East African market.
President & CEO of Dubai Chambers His Excellency Mohammad Ali Rashed Lootah, led the trade mission and emphasized the pivotal role of bilateral meetings in fostering economic alliances between the business communities of Dubai and Kenya. Lootah underscored Kenya’s potential as a lucrative market for Dubai-based companies seeking expansion opportunities on the African continent.
Lootah stated, “Through our meetings in Nairobi, we aim to diversify the exports of Dubai-based companies into the Kenyan market and facilitate the establishment of branches and offices in Africa. This initiative aligns with the objectives of the Dubai Economic Agenda (D33) and our chamber’s strategic priorities, furthering the global expansion of Dubai-based enterprises. We remain committed to providing all necessary support to enhance the competitiveness of our emirate’s companies in international markets.”
The United Arab Emirates Ambassador H.E. Dr. SalIm Ibrahim Al Naqbi, highlighted the commitment of both countries to enhancing trade and investment by eliminating trade barriers in the movement of goods and people through the Kenyan government’s support.
The Kenya Investment Authority ( KenInvest ) Managing Director,Ms. June Chepkemei reassured the Dubai business delegation of Kenya’s commitment to facilitating investments. She emphasized that the Kenya Investment Authority serves as a one-stop shop to guide investors through every step of the investment process, ensuring a seamless experience.
The Chamber President Dr. Erick Rutto , reaffirmed KNCCI’s dedication to improving the business environment and fostering trade between Dubai and Kenya. The culmination of these efforts resulted in the signing of a Memorandum of Understanding (MoU) between KNCCI and Dubai International Chamber, aimed at strengthening ties between the two nations.
The MoU outlines a series of cooperative measures, including prospective business missions, study trips, commercial events, trade fairs, exhibitions, joint seminars, training programs, symposiums, and the exchange of business delegations. The agreement promotes, facilitates, and develops economic and commercial cooperation between the business communities of both countries in accordance with their respective laws and regulations.
Furthermore, the MoU commits both parties to promote each other’s members through information materials, information journals, brochures, enterprise address books, and other communication channels. This collaboration is set to create numerous opportunities for businesses on both sides.
The Business-to-Business (B2B) component of the event facilitated matchmaking between Kenyan companies and 18 Dubai-based enterprises operating in sectors such as chemicals, construction, electricals, energy and renewables, food and beverage, hospitality and furnishing, information technology, retail, and trading. This initiative further solidified the spirit of friendly collaboration between Dubai and Kenya.
The New Horizons Trade Mission Event in Kenya is a testament to the growing partnership between the two nations, opening up a world of possibilities for businesses seeking expansion and collaboration in East Africa.