? Rusak Trade Compliance News reports:
▶️ On June 19, Kenya and the EU concluded negotiations on an Economic Partnership Agreement.
▶️ The Interim Economic Partnership Agreement (IEPA) will grant Kenya duty-free and quota-free access to the EU market for its entire export, including coffee, flowers, and minerals.
▶️ Kenya will gradually open its market to increased imports from the EU and has also agreed to binding commitments regarding environment, climate, and labor rights.
▶️ The negotiations for the agreement lasted for seven months, making it one of the fastest economic agreements ever reached by the EU.
▶️ Kenya is also engaged in talks with the USA to build stronger trade ties. The EU and USA have agreed on a joint plan to modernize the country’s telecommunications infrastructure.
▶️ Kenya, the seventh-largest economy in Africa, is a major exporter of tea, coffee, flowers, fruits, and vegetables. The EU accounts for 21% of its total exports.
? The agreement awaits ratification.
Link to the agreement
