The EU Parliament has recently endorsed a trade agreement with Kenya, enabling quota-free and duty-free market access for both parties. This agreement, awaiting ratification by the Kenya National Assembly, aims to liberalize trade between the European Union and Kenya. The Ministry of Trade in Kenya, led by Cabinet Secretary Rebecca Miano, plans to initiate public awareness campaigns regarding the Economic Partnership Agreement (EPA) post-ratification. The agreement is anticipated to benefit Kenyan farmers, processors, and traders by providing duty-free and quota-free access for exports such as flowers, tea, coffee, and vegetables to the EU market.
On the other hand, the EU is set to gain significant trade and investment opportunities in Kenya, particularly in the manufacturing sectors. The EPA intends to liberalize trade asymmetrically, with the EU offering immediate market access to Kenyan goods, excluding arms, while Kenya will gradually open its market to EU imports, safeguarding sensitive products.
The agreement also includes provisions for agriculture, food security, and protection of infant industries in Kenya, alongside a comprehensive chapter on trade and sustainable development. This chapter encompasses binding commitments on labor standards, climate change, biodiversity, and gender equality, aiming to prevent the reduction of labor and environmental standards for trade or investment attractions. Despite these provisions, concerns remain regarding the potential impact on Kenyan industries due to the gradual reduction of tariffs over a 25-year period.
Source: theeastafrican.co.ke