Kenya and the European Union (EU) have finalized a significant economic partnership deal granting Kenya duty-free and unlimited entry for specific goods into the EU, its primary export market.
The agreement was signed in Nairobi, attended by Kenyan President William Ruto and EU Commission chief Ursula Von Der Leyen.
President Ruto highlighted the agreement’s focus on benefiting various workers, aiming to enhance the income of farmers, artisans, transporters, and others involved in the production and distribution chain of goods covered under the deal.
In return, Kenya will gradually open its market to EU products. The EU stands as Kenya’s primary export destination and second-largest trading partner, with trade reaching around €3.3 billion ($3.6 billion; £2.8 billion) in 2022, marking a 27% increase from 2018.
For the agreement to come into force, it requires ratification by both the EU and Kenyan parliaments.
Originally designed for East African Community (EAC) members, the trade pact was abandoned by all regional bloc countries, except Kenya, back in 2014.
Source-BBC
