Nairobi, 20 June 2023 (TDI): In a momentous occasion held at State House Kenya, Nairobi, key stakeholders from the Republic of Kenya and the European Union gathered to mark the conclusion of the Kenya-European Union Economic Partnership Agreement (EPA).
The high-level meeting, attended by distinguished officials including Cabinet Secretary Moses Kuria from the Ministry of Investments, Trade & Industry, EU Chief Negotiator Dora Correia, Kenya Chief Negotiator and Trade Principal Secretary Alfred K’Ombudo, diplomats, and representatives from the private sector, was honored by the presence of Deputy President Rigathi and the European Commission Executive Vice-President and European Union Trade Commissioner Valdis Dombrovskis.
The Kenya-European Union Economic Partnership Agreement signifies a significant step forward in strengthening the economic ties between Kenya and the European Union.
President of the Republic of Kenya expressed his enthusiasm for the agreement, stating, “The deal assures Kenya of an expanded, stable, lucrative, and sustainable market, enhancing trade and investment opportunities. This will create employment for millions of people, expand earnings, and spur sustainable growth.”
The Kenya-European Union, Economic Partnership Agreement, will facilitate the liberalization of trade, offering tariff-free and quota-free access to the extensive European Union market for Kenyan exports.
This landmark agreement opens up new avenues for Kenyan businesses, enabling them to access a larger consumer base and benefit from increased market opportunities.
Moreover, the agreement ensures a more predictable and stable trading environment, fostering long-term economic growth and prosperity for both Kenya and the European Union.
In addition to the economic benefits, the Agreement paves the way for the initiation of the East African Community partner states into the agreement.
This expansion will further enhance regional integration, strengthen intra-African trade, and foster deeper collaboration within the East African region.
The successful conclusion of the Kenya-European Union Economic Partnership Agreement highlights the commitment of both Kenya and the European Union to fostering mutually beneficial trade relations.
By promoting economic cooperation and removing barriers to trade, this agreement sets a new standard for inclusive and sustainable growth.
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The government of Kenya commends the European Union for their constructive engagement and the tireless efforts of all parties involved in reaching this landmark agreement. With this EPA, Kenya is poised to unlock new economic opportunities, attract foreign investments, and stimulate job creation.
The Kenya-European Union partnership represents a shining example of collaboration and demonstrates the power of international cooperation to drive economic progress.