KNCCI signs pact with Sharjah Chamber of Commerce to boost trade

Kenya National Chamber of Commerce and Industry (KNCCI) Monday signed an agreement with the Sharjah Chamber of Commerce and Industry to open a satellite trade office in the United Arab Emirates (UAE).

The deal is expected to provide strategic bilateral cooperation between the business communities in both countries in a bid to boost cooperation in trade, investment, joint activities, information and services and trade policy support programmes.

The agreement was announced at the UAE-Kenya Trade and Investment Forum where Kenya hosted a delegation of over 20 top companies from the United Arab Emirates – which was organized by Sharjah Chamber of Commerce & Industry and the Kenya National Chamber of Commerce and Industry included various companies operating in manufacturing and industrial sectors.

“Kenya attaches great importance to this event, given Kenya’s status as a leading services destination and regional manufacturing hub. Economic relations between Kenya and the United Arab Emirates have grown exponentially since the two countries restored diplomatic ties further deepening economic cooperation which presents important opportunities for both countries,” Richard Ngatia, National President, Kenya National Chamber of Commerce (KNCCI).

Sharjah Chamber of Commerce & Industry and Kenya National Chamber of Commerce and Industry organized the forum to help businesses in the two countries find their product fit and encourage more investment and trade.

“The main goal of our delegation’s visit is to express Sharjah’s interest in boosting its investments in Kenya to leverage the high groFth rate of Kenyan economy and to bolster the priority sectors within the economic agenda of Kenyan Government, most notably, health, population, industry, food security, and agriculture sectors, as well as information technology projects, thanks to the distinctive experience of the leading Emirati firms investing in these vital sectors.” H.E Abdullah Sultan Al Owais, Chairman, Sharjah Chamber of Commerce & Industry said.

Sharjah accounts for nearly one-third of the UAE’s entire manufacturing sector, which alone accounts for almost 16 per cent of the Gulf states GDP. The non-oil trade volume between the UAE and Kenya has witnessed a qualitative leap over the past years to reach the US$2 billion in 2017-2018, a growth rate of about 37 per cent over previous years.

This growth was accompanied by an increase in the trade exchange of plastic products and re-export operations from the UAE to Kenya.

“Kenya’s private sector will continue to engage with the UAE business community and moving forward, we will continue to advance each other’s economies,” said Richard Ngatia, President of the Kenya National Chamber of Commerce (KNCCI).

The UAE Kenya Trade and Investment Forum is part if the UAE’s trade mission in Kenya where bilateral meetings will be held between businesspeople from both sides.