The National Assembly has given its approval to the Kenya-European Union Economic Partnership Agreement (EPA), a trade pact ensuring duty-free and quota-free access to the €13 trillion European market for Kenyan traders.
This Economic Partnership Agreement was formally signed in Nairobi last December, in the presence of President William Ruto and European Commission President Ursula von der Leyen.
Previously, the European Parliament had ratified the agreement, with over 366 members endorsing the trade deal. This accord not only provides expanded opportunities for EU trade and investment in Kenya but also solidifies the EU as Kenya’s second-largest trading partner and primary export market.
In 2022, total trade between the EU and Kenya surged to €3.3 billion, marking a notable 27% increase compared to five years prior. EU imports from Kenya, totaling €1.2 billion, primarily comprise vegetables, fruits, and flowers, while EU exports to Kenya amount to €2.02 billion, largely consisting of mineral and chemical products, as well as machinery.
With parliamentary approval secured, both trade and investment partners are now poised to commence the implementation of this pivotal agreement.
