By BUSINESS DAILY
After a decade of negotiations, Kenya and the European Union have finally enforced a trade deal that paves the way for tax-free goods from the 27-country bloc into the Kenyan market. The EU-Kenya Economic Partnership Agreement (EPA) came into effect, allowing Kenyan goods such as vegetables, cut flowers, fruits, tea, and coffee to enter the EU without duty and quotas. In return, Kenya will gradually reduce duties on imports from Europe over 25 years.
The agreement includes provisions on trade, economic cooperation, and sustainable development, covering issues like labor, gender equality, forestry, environment, and climate change. The deal also prohibits blanket subsidies on EU agricultural exports to Kenya to protect local agriculture and food security.
The agreement, approved by both EU and Kenyan lawmakers, marks a significant milestone in enhancing trade relations between the two parties, serving as a template for other African countries. It opens up opportunities for investments, with the potential for other EAC countries to join in the future.