Wednesday, April 17, 2024
HomeEditor's PickEuropean Parliament Approves Kenya-EU Economic Partnership Agreement

European Parliament Approves Kenya-EU Economic Partnership Agreement

The Kenya-EU Economic Partnership Agreement, witnessed by President William Ruto and EU Commission President Ursula von der Leyen in Nairobi on December 18th, 2023, has been approved by the European Parliament. This landmark agreement guarantees Kenyan exporters permanent duty-free and quota-free access to the vast €14 trillion market spanning 27 countries.

The European Parliament’s recent decision to greenlight this agreement signifies a crucial step in strengthening trade ties between the EU and East Africa’s economic powerhouse. With MEPs voting overwhelmingly in favor of the agreement, it paves the way for enhanced cooperation and economic growth between the two parties.

The EU-Kenya EPA is more than just a trade deal; it embodies the EU’s commitment to sustainable development and international standards. Binding provisions on labor, gender equality, climate, and the environment ensure that both parties uphold their obligations while fostering economic cooperation.

Kenya’s status as the EU’s second-largest trading partner in Africa underscores the significance of this agreement. With total trade reaching €3.3 billion in 2022, the EPA promises to provide Kenyan exports with duty-free, quota-free access to the lucrative EU market. Conversely, it facilitates the gradual opening of Kenya’s market to EU imports, fostering a balanced and mutually beneficial trade relationship.

Alessandra Mussolini, the rapporteur for the agreement, aptly describes it as a catalyst for economic growth and job creation. By promoting trade and investment, the EPA has the potential to uplift living standards and drive sustainable development in Kenya.

As the EU-Kenya EPA moves forward, the Council’s final formal approval is the next crucial step in completing the ratification process on the EU side. This agreement not only strengthens bilateral ties but also sets a precedent for future cooperation between the EU and other African nations.

RELATED ARTICLES
- Advertisment -

Most Popular

Recent Comments

Anthony Mutai on Kephis certfied nurseries
GEORGE GAKUO on Kephis certfied nurseries
Beatrice Atieno on Change of guard at Sian Roses
Thomas M.Nzesi on Kephis certfied nurseries
Samson Ongus on Kephis certfied nurseries
Mr Ombeva Iduvagwa on Flowers From Molo Greens
Kipkemoi Samson on Cabbage production tips
JOYCE NAKHANU WAMALWA on Kenya avocados export on the rise
justus wandera on Cabbage production tips
MICHAEL BENEDICT on Kenya avocados export on the rise
murimi gathoni on Cabbage production tips
Olipha Kerubo Atambo on Kenya avocados export on the rise
Mbusa Stephen on Production of Apples
Sospeter Lemoigo on Kephis certfied nurseries
Benjamin temo on Cabbage production tips
Rashid Kipchumba on Kenya avocados export on the rise
Beatrice Ledama on Cabbage production tips
Akello Babra on Cabbage production tips
David gechure ondora on Cabbage production tips
Rutoh titus on Cabbage production tips
Emmanuel Barasa on Cabbage production tips
semujjus@gmail.com solomon on Bungoma’s growing passion