Kenya signs trade deal with European Union to safeguard exports

21/06/2023 08:19 - 19 Views

Kenya has this Monday signed an Economic Partnership Agreement with the European Union (EU) that will guarantee duty-free access for its farm produces into its biggest export market.

European goods entering Kenya will see tariffs reduced over 25 years under the agreement, officials said at a signing ceremony in the Kenyan capital Nairobi.

The deal took seven months to negotiate, making it one of the fastest the EU has ever struck, officials from both sides said.

Kenya, Africa's seventh-largest economy, is a major exporter of tea, coffee, flowers, fruits and vegetables.

The EU accounts for 21% of its overall exports. "Beyond trade, the agreements is designed to stimulate investments and manufacturing," Kenya's President William Ruto said in his address.

Source: Reuters