President William Ruto has lauded the newly signed Kenya-European Union (EU) partnership concluded at the State House, Nairobi on Monday.
The pact was signed by European Commission Executive Vice-President and EU Trade Commissioner Valdis Dombrovskis and Kenya’s Cabinet Secretary for Investments, Trade and Industry, Moses Kuria.
According to the Head of State, the partnership has been in the making for seven years and is poised to boost trade and investment relations between the EU and Kenya.
The agreement aims to put into effect the provisions of the 2014 Economic Partnership Agreement between the EU and the East African Community (EAC) Partner States.
It follows a decision made by the East African Community Heads of State Summit on February 27, 2021.
Under the deal, Kenyan exports will now enjoy duty and quota-free market access to the EU. It will also secure a market for Kenyan farmers and boost their income potential.
According to President Ruto, the agreement will also expand and guarantee Kenya’s continued flower export to the EU and at the same time expand the coffee market for small-scale farmers and cooperatives.
Still in farming, the agreement, according to Ruto, will also guarantee a market for fish, fresh vegetables, edible fruits and nuts.
According to a joint communique issued by CS Kuria and his EU counterpart, the Kenya-EU agreement will encourage the private sector to invest in Kenya and stimulate job creation in the manufacturing sector, in industries such as chemicals, steel, pharmaceuticals, machinery, & other related products.
It will further position Kenya as a natural hub for European investors seeking access to the East African Community (EAC), the Common Market for Eastern and Southern Africa (COMESA), and the African Continental Free Trade Area (AfCFTA).
