M a r k e t N e w s

Dubai Chamber delegation meets Kenyan President to enhance economic ties

Posted on : Thursday, 6th October 2016

 In its quest to strengthen bilateral economic ties between Dubai and Kenya, the Dubai Chamber of Commerce and Industry-led business delegation met Uhuru Kenyatta, President of the Republic of Kenya, during their current visit to the strategic East African country.

 
During the meeting, the Kenyan President lauded Dubai Chamber’s efforts in opening a representative office in the Kenyan capital which he said is a step in the right direction for developing bilateral relations between the two countries while taking them to a higher level. Kenyatta was all praise for Dubai’s economic growth model which according to him has acquired a place of prominence on the world economic map.
 
He expressed his country’s desire to share the expertise and experience of Dubai firms from various high-growth economic sectors which he said will benefit Kenya in its march towards economic development in the African continent.
 
The Kenyan President appreciated Dubai Chamber’s interest in the Kenyan market which he said is an important element of its hugely successful Africa expansion strategy as he also drew the delegation’s attention to the huge growth potential in his country’s lucrative economic sectors like tourism, agriculture and infrastructure development.
 
Majid Saif Al Ghurair, Chairman, Dubai Chamber, stated that the Chamber is committed to facilitating its members’ entry into the African markets as its new office in Nairobi will stimulate joint economic partnerships between the two countries. He also thanked all Kenyan public and private sector partners for their support to Dubai Chamber in its endeavour to reach out to the country’s businesses.
 
The trade mission, taking place this week in Kenya and Ethiopia, is organised as a lead up to the 4th Africa Global Business Forum, taking place in Dubai next year.
 
On the sidelines of the trade mission to Kenya, S.S. Lootah International, the global arm of Dubai-based conglomerate S.S. Lootah Group, has signed a Memorandum of Understanding (MoU) worth AED 500 million with Kenya’s Hashi Energy.
 
Under the terms of the MoU, the two companies will be providing the United Nations Organisation Stabilisation Mission in the Democratic Republic of the Congo (MONUSCO,) with logistical support, financing facilities, food supplies, petroleum products, prefab storage and armoured ambulances to about 16,000 members of the United Nations Mission in Congo.
 
Commenting on the agreement, Yahya Bin Saeed Lootah, CEO, S.S. Lootah International, said, "We are honoured to be approaching Africa representing Dubai’s private sector under the umbrella of the Chamber. By so doing we are extending our capabilities and potentials to contribute to the social and economic welfare of Africa."
 
Lootah stated that the MoU opens up the doors to more business opportunities on the continent, adding that the company hopes to extend the agreement to other UN missions in Sub-Saharan Africa, potentially doubling its value in the future.
 
Majid Saif Al Ghurair, Chairman, Dubai Chamber, said the agreement is the result of the Chamber's efforts to strengthen its presence in the East African market through the opening of its newest international office in Nairobi.
 
Hamad Buamim, President and CEO, Dubai Chamber, said the agreement will have a positive impact on the trade relations between Dubai and Kenyan businesses, adding that the Chamber’s presence in Kenya will go a long way in achieving mutual strategic goals and expanding trade volumes between the two sides.

Source : www.wam.ae
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