It is one of the most ambitious trade deals ever signed by the E.U. with a developing country when it comes to sustainability provisions
The European Union (E.U.) and Kenya have signed an Economic Partnership Agreement (EPA) to boost bilateral trade in goods, increase investment flows and drive sustainable economic growth.
The agreement was signed by the President of the European Commission – Ursula von der Leyen and the President of Kenya – Dr. William Samoei Ruto, in Nairobi.
It is one of the most ambitious trade deals ever signed by the E.U. with a developing country when it comes to sustainability provisions such as climate and environmental protection, labour rights and gender equality. The EPA will be open for other EAC countries to join in the future.
Taking it to X, Ursula tweeted,
The EU deeply values its partnership with Kenya, dear @WilliamsRuto
— Ursula von der Leyen (@vonderleyen) December 18, 2023
We are strengthening it with the EU-Kenya Economic Partnership Agreement ↓ https://t.co/x7uQ3Ei3gE
Sharing his thoughts, Dr. Ruto tweeted,
With the President of the EU Commission @vonderleyen, witnessed the signing of the Kenya-European Union Economic Partnership Agreement, State House, Nairobi. pic.twitter.com/n7g8tzO5I6
— William Samoei Ruto, PhD (@WilliamsRuto) December 18, 2023
The EPA will create even more opportunities for Kenyan businesses and exporters, as it will fully open the E.U. market for Kenyan products. It will also incentivise E.U. investment in Kenya. The EPA also includes a special safeguard for agriculture, food security and infant industry. A dedicated chapter has been included on economic and development cooperation, aimed at enhancing the competitiveness of the Kenyan economy. Together with E.U. development assistance, this will help build capacity and support local farmers in meeting the E.U. standards.
Besides guaranteeing higher earnings for Kenyan products, the EPA will also help create more jobs in the E.U. and Kenya. The E.U. is Kenya’s first export destination and 2nd largest trading partner, with a total of € 3.3 billion in bilateral trade as of 2022.
Kenya has played a major role in driving sustainability efforts on the African continent and is a reliable ally in the fight against climate change. It co-leads the Coalition of Trade Ministers on Climate initiative launched earlier this year, together with the E.U. and other partners. The EU-Kenya EPA builds on this strong track record.
The agreement is in line with the European Commission’s commitment to step up engagement with partners and regions in Africa. The aim is to enhance sustainable trade links between both continents and within Africa itself, thereby meeting key objectives for both the EU-Africa relationship and the green transition.
Going ahead, the EPA will be transmitted to the European Parliament for consent. Post that, the agreement will subsequently enter into force.
