Kenya and the European Union have signed a significant trade agreement aimed at strengthening economic ties and countering China’s growing influence in Africa.
The deal, known as the EU-Kenya Economic Partnership Agreement, was officially concluded in a ceremony held in Nairobi. Once ratified, the agreement will grant Kenya duty-free and quota-free access to the EU, its largest market where it currently exports about one-fifth of its products.
Under the agreement, imports from the EU to Kenya, including chemicals and machinery, will gradually receive tariff reductions over a span of 25 years.
However, certain sensitive products will be excluded from this reduction. Kenya’s key exports to the EU consist of agricultural products such as vegetables, fruits, tea, and coffee. Additionally, over 70% of the country’s cut flowers are destined for Europe.
Kenyan President William Ruto, who presided over the ceremony, expressed his pride in the agreement, emphasizing that the EU is a crucial development partner for Kenya, second only to the World Bank.
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He highlighted the benefits for Kenyan farmers, stating that they can now count on a stable market and that the agreement presents new opportunities to boost trade.
EU Trade Commissioner Valdis Dombrovskis echoed this sentiment, noting that EU companies have invested 1 billion euros in Kenya over the past decade and that there is a strong desire to further expand business ties.
This trade agreement marks the first comprehensive deal between the EU and an African nation since 2016, and it comes as a response to China’s extensive investments in infrastructure projects across the continent.
The EU aims to deepen its economic engagement with Africa, and this agreement serves as a significant step in that direction.
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