Kenya and EU signs an agreement which will see Kenya export to EU on tariff-free basis

Kenya and European union have signed an economic partnership agreement aimed at boosting trade and investment relations between the EU and Kenya.

The discussions were held yesterday in Nairobi in the presence of president William Ruto, which was concluded by European Commission Executive vice- president and EU trade commissioner Valdis Dombrovskis and Cabinet Secretary of Investments, Trade and Industry, Moses Kuria.

According to the agreement, Kenya’s exports to EU will be tariff-free from day one while tariffs on EU exports will be liberalized over time and not on all products. This will create new opportunities for Kenyan and European businesses including micro-small and medium-sized enterprises, and boost sustainable economic growth and job creation.

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The agreement aims to advance shared values and common interests particularly on sustainability. Both the EU and Kenya have committed to combining sustainable growth and the creation of jobs with environmental conservation and climate resilience. Executive vice-president and EU commissioner for trade Valdis Dombrovskis hailed the agreement as a deepened relationship between the EU and Kenya which would create new opportunities for businesses and increase trade and investment.

“Kenya is one of our most important partners on the African continent. Today (yesterday), we welcome taking our economic partnership to next level with this agreement we are establishing a deepened relationship between us and creating new opportunities for our businesses that will increase trade and investment,” EU trade commissioner Valdis stated.

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According to a joint communiqué issued by CS Moses Kuria and his EU counterpart, the Kenya -EU agreement will continue to be accessible to EAC member states. “The agreements reflects our shared commitment to trade sustainably and create opportunities to integrate value-chains between Kenya, East Africa, and the European Union,” Kuria explained.
The agreement will contribute to the UN 2030 Agenda for sustainable development and the African Union Agenda 2063 by advancing shared values and common interests on sustainability.

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