EU council adopts EU-Kenya Economic Partnership Agreement » Capital News
NAIROBI, Kenya, May 31 – The Council of the European Union has adopted a decision on the conclusion of the EU-Kenya Economic Partnership Agreement (EPA).
The EU Council said Thursday that the agreement will boost trade in goods and create new economic opportunities, with targeted cooperation to enhance Kenya’s economic development.
The EU and Kenya signed the agreement in Nairobi, December 18, 2023, after which the European Parliament gave its consent to the conclusion of the agreement on February 29, 2024.
Kenya ratified the EPA on April 24, 2024.
“This agreement will strengthen our cooperation with Kenya, the economic hub of East Africa. Workers, businesses and traders on both sides will benefit from this shared commitment to sustainable development, including labour rights, the environment and climate action,”said Hadja Lahbib, Belgian minister of Foreign Affairs, European Affairs and Foreign Trade.
The agreement will provide duty-free, quota-free EU market access to all exports from Kenya (except arms) as soon as it enters into force, as well as partial and gradual opening of the Kenyan market to imports from the EU.
The agreement includes binding provisions on trade and sustainable development, such as climate and environmental protection and labour rights, and a transparent dispute resolution mechanism.
The EU is Kenya’s first export destination and second largest trading partner, totaling €3.3 billion of trade in 2022 – an increase of 27% compared to 2018.
The agreement will enter into force on the first day of the second month following the date on which the parties have notified each other of the completion of their respective internal procedures.
Negotiations on the Economic Partnership Agreement between the East African Community and the EU (EAC-EU EPA) were concluded in 2014. Kenya signed and ratified the Agreement in September 2016.
The EU and its Member States also signed it in June 2016.
However, the Council says the implementation of the EPA has not been possible because not all EAC partner countries signed and ratified it.
The EAC Summit of 27 February 2021, under the chairmanship of Kenya, reached a decision allowing individual EAC states to implement the EPA.
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