Kenya and the European Union (EU) have officially embarked on the implementation of the Economic Partnership Agreement (EPA), a landmark trade deal that promises to reshape economic relations between Kenya and the EU. The implementation phase was inaugurated by Investments, Trade, and Industry Cabinet Secretary Salim Mvurya at the EPA Sensitization Workshop held in Nairobi, marking the culmination of years of negotiation and collaboration. The workshop aims to establish an operational framework that will guide the effective execution of the agreement.
Strengthening Kenya-EU Trade Relations
CS Salim Mvurya, alongside EU Ambassador to Kenya Henriette Geiger, highlighted the significance of this formidable partnership. The EPA is set to open sustainable trade opportunities for Kenyan exporters in a market worth 13 trillion Euros, significantly boosting Kenya’s economic potential on the global stage. By providing duty-free and quota-free access to EU markets, the agreement is expected to enhance trade and investment not only for Kenya but also for the broader African region.
“Today, after several years of working towards delivering a permanent agreement between us, we have managed to sign and ratify the agreement and are finally ready to proceed with the implementation phase,” said CS Mvurya during the workshop. He emphasized that the EPA will expand supply relations and facilitate a more seamless entry of Kenyan products into the European market, benefiting a wide array of industries from agriculture to manufacturing.
Opportunities for Kenyan Enterprises and Professionals
One of the key highlights of the EPA is its focus on fostering opportunities for Kenyan enterprises, particularly Micro, Small, and Medium Enterprises (MSMEs). CS Mvurya encouraged MSMEs in both the public and private sectors to seize the opportunities presented by the agreement by supplying high-value, premium-manufactured products to global markets. The government of Kenya is committed to working closely with the private sector to identify market opportunities, finance trade, and add value to Kenyan products to ensure their sustainability and standards as they enter the 27 European countries.
“We look forward to putting more money in the pockets of our smallholder farmers, technicians, assembly line workers, truck drivers, and farm workers, just as much as we look forward to creating opportunities for large businesses,” Mvurya affirmed. This inclusive approach aims to uplift the entire economic spectrum, from small-scale producers to large corporations.
Additionally, CS Mvurya called on the EU to collaborate with Kenya in negotiating a Trade in Services Protocol, which would open new avenues for Kenyan professionals. By expanding access to markets for engineers, doctors, nurses, environmental technicians, and other professionals, the agreement could unlock a broader market niche, facilitating the freer movement of services between Europe and Kenya.
A New Era of Economic Collaboration
EU Ambassador Henriette Geiger, accompanied by EU Trade Director Dora Correia and key EU stakeholders, praised the progress made towards the operationalization of the agreement. She underscored the potential of the EPA to provide larger, secure markets, support regional integration, foster industrialization, and promote shared values. The agreement is seen as a critical tool for enhancing trade facilitation and predictability, which in turn would attract sustainable investments into Kenya.
“The agreement will provide larger secure markets, support regional integration, foster industrialization, promote shared values, and provide easier trade facilitation,” reiterated Geiger. The EPA is also poised to leverage the opportunities under the African Continental Free Trade Area (AfCFTA), creating a blend of expertise between Kenya and Europe that will drive the growth of the manufacturing sector.
The implementation of the EPA marks a significant step forward in Kenya’s economic journey, promising to enhance the nation’s trade relations with one of its largest trading partners. As the government and the private sector work hand-in-hand to capitalize on this agreement, Kenya stands poised to reap substantial economic benefits, fostering growth and prosperity for all stakeholders involved.
