This archive report was first published on 26 November 2019.
On November 26, 2019, Kenya National Chamber of Commerce and Industry (KNCCI) and Sharjah Chamber of Commerce and Industry signed a Memorandum of Understanding (MOU) to establish a satellite trade office in the United Arab Emirates.
The agreement aims to foster cooperation in trade, investment, joint activities, information, and trade policy support programs between the business communities in Kenya and UAE.
KNCCI National President Richard Ngatia emphasized the significance of the MOU, stating that it will not only boost investment but also leverage the high growth rate of the Kenyan economy and bolster priority sectors within the government's economic agenda.
Ngatia noted that economic relations between Kenya and UAE have grown exponentially since the two countries restored diplomatic ties, presenting important opportunities for both nations.
Sharjah Chamber of Commerce and Industry Chairman Abdulla Sultan Al Owais highlighted the mutual benefits of the partnership, stating that it would serve the interests of business communities in both countries.
The MOU will focus on developing and promoting exports of UAE local companies, enabling growth in Sharjah and across the country.
