Kenya-EUTrade Deal Receives a Boost
Trade CS Rebecca Miano EGH (seated right) witnesses the signing of the Kenya-EU Economic Partnership Agreement, State House, Nairobi, during EU Commission President Ursula Von der Leyen state visit
The European Parliament has given a resounding vote of confidence to Kenya on Thursday after approving the Kenya-EU Economic Partnership Agreement, whose signing was witnessed by President William Ruto and EU Commission President Ursula Von der Leyen in Nairobi, on December 18th, 2023.
366 Members of the European Parliament voted in favor on Thursday, approving the deal for Kenya in a massive €14 trillion, 27-country market.
The EPA will ensure that farmers, processors, and traders enjoy permanent duty-free and quota-free access to Kenyan exports – flowers, tea, coffee, fish, veggies, fruits, nuts, and more.
It also opens significant opportunities for the EU in trade and investment in Kenya, spurring job creation in manufacturing – chemicals, steel, pharmaceuticals, machinery, & related sectors, ultimately positioning Kenya as a hub for European investors eyeing EAC, COMESA, & AfCFTA (Africa Continental Free Trade Agreement).
The landmark Kenya-European Union Economic Partnership Agreement signals to the globe that Kenya is ready to manufacture and export high-value products to the world. It opens the mega, lucrative, and premium EU market for Kenyan products, creating and expanding opportunities for Kenyan businesses and exporters.
The deal — the first with a developing country in which the EU’s new approach to trade and sustainable development is reflected — will further spur the EU investment in Kenya besides guaranteeing higher earnings for our products.
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