Kenya and the United Kingdom finalized the signing of a multi-billion Economic Partnership Agreement, on Tuesday.
Kenya-UK sign multi-billion trade deal
The deal takes effect 1st January, 2021
The post-Brexit deal was signed in London by Trade Cabinet Secretary Betty Maina and UK’s International Trade Minister Ranil Jayawardena.
The trade deal will ensure all companies operating in Kenya, including British businesses, continue to benefit from duty-free access to the UK market.
Speaking during the signing of the agreement, CS Maina said the deal will secure market access for exports from the East African Community (EAC)
“We have agreed on a comprehensive package of benefits that will ensure a secure, long term and predictable market access for exports originating from the EAC free trade area,” said Trade CS.
UK International Trade Minister Ranil Jayawardena said the Economic Partnership deal will ensure businesses have the certainty they need to continue trading as they do now, by supporting jobs and livelihoods in both our countries.
“Today’s agreement is also a first step towards a regional agreement with the East African Community, and I look forward to working with other members to secure an agreement to forge ever-closer trading ties,” he said.
Kenyan High Commissioner to the UK Manoah Esipisu took to social media to express his excitement over the deal he termed historic, between the two countries.
“Kenya and the UK have signed the historic trade agreement, securing its 5fth largest trading market Post-Brexit. @maina_betty @ranil #KenyaUKTrade It’s a deal! Very honoured and privileged to see this day come to pass! Today, Kenya and the UK have signed the long awaited #KenyaUKTrade deal!,” said Mr Esipisu.
“This is about securing and protecting Kenya’s £2 billion ecosystem of trade with the UK on which hundreds of thousands of jobs and millions of livelihoods depend,” he added.
The deal will also support jobs and economic development in Kenya.
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