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Browsing: EU-Kenya Economic Partnership Agreement (EPA)
- In the first three months of this year, Asia remained the leading source of Kenya’s imports accounting for goods worth $3.4 billion, as the country’s import bill closed the quarter at $5.4 billion.
- Kenyan traders and government imported goods worth $990.2 million from China, data by the Kenya National Bureau of Statistics (KNBS) shows, making it the biggest import source by country.
- Unlike his predecessors, President Ruto is seen to lean more towards the West as he seeks financing and trade cooperation.
Kenya’s imports from Asian countries including China
China and India remained the top exporters to Kenya in the first quarter of this year, leading other Far East nations in retaining a firm grip on the East African economic powerhouse’s trade and investment space, which they have dominated for over a decade.
This trend continues despite President William Ruto’s heightened charm offensive to economies from the West, which is …
- The EU-Kenya agreement will boost bilateral trade in goods, increase investment flows, and strengthen the ties between these partners.
- It is also expected to facilitate mutually advantageous economic relations sustainably, stimulating job creation and economic growth.
- The EU-Kenya EPA is the most ambitious deal negotiated with an African country in terms of sustainability and can serve as a template for other sustainable trade agreements.
The activation of the EU-Kenya Economic Partnership Agreement (EPA) on July 1st, 2024, marks a historic moment in the growing economic relations between Kenya and the European Union.
According to a statement from Kenya’s Ministry of Investments and Trade as well as the EU, this agreement is poised to greatly transform Kenya’s trade with Europe, opening doors for Kenyan exporters to access duty-free the opportunities set by the $18 trillion bloc.
“The EPA will also create more opportunities for Kenyan businesses and exporters, as it will …