UAE, Kenya ink USD 500 mn investment framework agreement: Abu Dhabi sovereign wealth fund ADQ and Kenya’s National Treasury and Economic Planning Ministry have entered into a USD 500 mn framework agreement, seeking to invest in key sectors within the East African nation, Wam wrote.

…and agree to collaborate on mining and tech: The UAE’s Investment Ministry and Kenya's Ministry of Finance and National Treasury have also signed an MoU to collaborate on investments in the fields of mining and technology, Wam reports. The two countries will look at cooperation in mineral exploration, mine development, mineral processing, refining, and mineral marketing, as well as research and development in the sector, in Kenya.

Background: Foreign Trade Minister Thani Al Zeyoudi finalized a trade and economic agreement with his Kenyan counterpart Rebecca Miano in February, aiming to support growth in trade and investment flows, as well as cooperation on food production, mining, technology, and logistics.

Another trade and economic agreement coming? Foreign Trade Minister Thani bin Ahmed Al Zeyoudi and his Ecuadorian counterpart Sonsoles Garcia agreed to kick off negotiations for a trade and economic partnership agreement between both countries, Wam reported yesterday. The minister namechecked agriculture, tourism, infrastructure, technology, renewable energy as potential sectors for cooperation.

REMEMBER- The UAE signed an economic and trade agreement with Colombia last week, one day after inking another with Costa Rica, the latest in a series of agreements aimed at boosting the UAE’s non-oil foreign trade.

OTHER DIPLOMACY NEWS-

  • President Sheikh Mohamed bin Zayed Al Nahyan met with Bahraini King Hamad bin Isa Al Khalifa to explore boosting ties, discuss the situation in the region and urge de-escalation and calm, and strengthen Gulf relations. (Wam)
  • Foreign Affairs Minister Abdullah bin Zayed Al Nahyan also met with his Bahraini counterpart, to discuss boosting cooperation and the situation in Gaza. (Wam)
  • President Sheikh Mohamed bin Zayed Al Nahyan also spoke with Spanish Prime Minister Pedro Sanchez over the phone to discuss boosting ties and the situation in the region. (Wam)
  • Justice Minister Abdullah bin Sultan Al Nuaimi met with Albanian Interior Minister Taulant Balla to discuss judicial cooperation and exchanging expertise in the fields of extradition and combating money laundering and crime. (Wam)
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