In a significant move, Kenya and the European Union have finalized an Economic Partnership Agreement (EPA), ensuring the East African nation’s duty-free and unlimited access to specific products within the EU, its primary export market.
The signing ceremony in Nairobi witnessed the presence of Kenyan President William Ruto and EU Commission Chief Ursula Von Der Leyen.
“At the core of this arrangement is our aspiration to put real money into the pockets of ordinary people: farmers, craftsmen and women, fabricators, transporters and various other kinds of workers who contribute to the manufacturing, intercontinental transport and last-mile delivery to consumers of various products that are a subject of the signing of this agreement,” President Ruto said.
In return, Kenya is obliged to gradually open its market to EU goods.
The EU stands as Kenya’s top export destination and the second-largest trading partner, registering trade worth about €3.3 ($3.6bn; £2.8bn) in 2022 – marking a 27% increase from 2018.
Both the EU and Kenyan parliaments must ratify the deal for it to take effect.
Initially intended for East African Community (EAC) members, the EPA saw abandonment by all regional bloc countries except Kenya in 2014.
