Trade Sector Stakeholders Endorse Kenya-EU Economic Partnership Agreement
Key stakeholders in the trade sector have voiced their full support for the Economic Partnership Agreement (EPA) between Kenya and the European Union.
Speaking before the Committee on Trade, Industry, & Cooperatives chaired by Hon. James Gakuya (Embakasi North), stakeholders lauded the agreement as a game changer, noting that it will boost the business industry in the country.
Rebecca Miano, the Cabinet Secretary in charge of Investments, Trade & Industry, briefed the committee, emphasizing the numerous benefits the country stands to gain from the partnership.
Rebbeca Miano, the Investments, Trade & Industry Cabinet Secretary while briefing the committee observed that the country stands to reap innumerable benefits from the partnership.
Hon. Gakuya and Committee Vice Chairperson Hon. Marianne Kitany (Aldai) led MPs in scrutinizing the clauses of the agreement that among other goals seek to secure long-term duty-free and quota-free access to Kenyan goods to the EU market.
Of particular interest to the Committee were the tangible benefits the country stands to gain from the partnership concerning trade in goods, fisheries, agriculture, and economic and development cooperation.
CS Miano in response revealed that the EU, comprising 27 countries, represents a €16 trillion market, accounting for 17% of the global GDP.
“This offers a significant export opportunity for Kenyan goods,” said CS Miano, noting that the EU is already one of Kenya’s largest development partners.
Government officials from the National Treasury, the State Office of the Attorney General, the State Department of Foreign Affairs, and the Tea Board of Kenya provided their submissions before the committee.
From the private sector, representatives from the Kenya Tea Growers Association, New Kenya Planters Cooperative Union, Fresh Produce Exporters Association of Kenya, and Kenya Association of Manufacturers shared their insights on the agreement.
Others were the Kenya Association of Tour Operators, the Kenya Private Sector Alliance and the Kenya National Chamber of Commerce and Industry.
The Committee is scheduled to continue receiving submissions from stakeholders on the pact tomorrow, Thursday, April 18.
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