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Thursday, May 26, 2022

Major Business Deal Uhuru Sealed in Dubai

  • Kenyan Traders are set to benefit from a new trade deal that was struck between President Uhuru Kenyatta and his counterparts from the United Arab Emirates (UAE).

    Kenyan traders will get a 10-year visa to do business in Dubai even as the UAE and Kenya move to strengthen their bilateral trade ties.

    According to the Kenya National Chamber of Commerce and Industry (KNCCI) president Richard Ngatia, who accompanied President Kenyatta during the visit to the UAE, the visa deal will be helpful to many businesspersons who want to invest in Dubai.

    President Uhuru Kenyatta during a meeting with representatives of the Gulf Cooperation Council (GCC) in Dubai, United Arab Emirates (UAE) on February 15, 2022.
    PSCU

    He noted that the visa would be easily accessible to Kenyans noting that they would have many trade benefits in the deal.

    Ngatia, who is eying the Nairobi gubernatorial seat, added that Kenyans would also get access to loans to finance their ventures once they receive the visa.

    “I believe that any person in the private sector will get the visa once they apply. This gives a guarantee that once you invest in Dubai you can get capital in this market,” he stated.

    The trade deal will be influential to many traders who have started horticulture and hospitality business enterprises in Dubai.

    The new deal comes after President Kenyatta met with His Highness Sheikh Mohamed Bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi, on the sidelines of his visit to the UAE.

    After the meeting, it was revealed that the country was open to initiating a free trade agreement with the UAE that will ease the trade barriers that have existed between both countries in a bid to improve trade.

    “Strengthening bilateral ties for the mutual benefit of the people of Kenya and the UAE topped the agenda of the fruitful meeting between President Kenyatta and the Crown Prince.

    “Leading their respective delegations at the meeting held at the Sea Palace in Abu Dhabi, the two leaders agreed on the need for Kenya and the UAE to explore the possibility of signing a Free Trade Agreement (FTA) to enhance trade,” read a statement by State House.

    Among other trade deals that have been secured during Uhuru’s visit to the UAE include trade pacts in tourism, logistics and investments.

    President Uhuru Kenyatta danced with Bomas Harambee Dancers at the Expo 2020 Dubai during the Kenya Day festivities on Wednesday, February 16, 2022.
    President Uhuru Kenyatta danced with Bomas Harambee Dancers at the Expo 2020 Dubai during the Kenya Day festivities on Wednesday, February 16, 2022.
    Courtesy
  • Source: KENYAGIST.COM

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