Wednesday, May 29, 2024
Home > Business & Finance > Dubai Chambers launches its Plan to Collaborate with Kenya in business

Dubai Chambers launches its Plan to Collaborate with Kenya in business

The Dubai Chambers International in Partnership with Kenya National Chamber of Commerce and Industry (KNCCI) has launched the Doing Business with Kenya Forum, to bring together industry leaders, entrepreneurs, and international business experts to explore the burgeoning business prospects in Kenya and the broader East Africa region.

Speaking in Nairobi on Wednesday during the business meeting, the President CEO of Dubai Chamber Mohammed Ali Rashed Lootah, said that the Dubai Chamber had witnessed growth in terms of bilateral trade between Dubai and Kenya last year.

“Last year’s trade value was US$2.1 billion, whereby the majority of exports from Dubai specifically to Kenya were electronics, machinery, vehicles, spare parts, and plastics, while Dubai imported a lot of products from Kenya in terms of minerals, mostly gold, coffee, fruits among others,” Lootah added.

The Dubai Chamber International went ahead to sign an MOU with the Kenya National Chamber of Commerce and Industry, to boost bilateral trade and investment, mentioning Kenya as an East African gateway.

Lootah said that the chamber would love to take Kenya to the next level by encouraging more Dubai entrepreneurs to not only trade with Kenya but also invest in the country.

Moreover, Mohammed stated that the MOU will also concentrate on information exchange and help to facilitate the inquiries and clarification raised by the private sector to make even more arrangements with Kenya being their partner.

The KNCCI President Dr Erick Rutto said that there are two tools that the two chambers are in the process of agreement.

Dr Rutto said that the first tool the establishment of a KNCCI liaison office in Dubai is geared towards helping Kenyan traders to access more markets in Dubai, with the second tool being geared towards enhancing e-commerce to increase the seamless export and import of goods.

“What I would like to tell our counterparts from Dubai is, yes Kenya is a hub and the entry for East and Central Africa, a region, and on that KNCCI is the host of the private sector, a regional forum of the Great lakes region, which is a group of twelve countries. Kenya being the host you can be able to access the market in the East and Central African region,” Dr. Rutto said.

He added that Kenya is the right place for the Dubai Chamber to launch its investments in Africa and where they can access the continent’s market through the African Continental Free Trade Area (AfCFTA).

“If there is any company which wants to trade in Africa, this is the time for them to set out foot and be able to invest, be able to do manufacturing and be able to set up their factories and industries here in Kenya,” Rutto said.

By Juma Nalami and Damaris Munyao

Leave a Reply