The EU and Kenya have announced today the political conclusion of the negotiations for an Economic Partnership Agreement (EPA). The agreement will boost trade in goods and create new economic opportunities, with targeted cooperation to enhance Kenya’s economic development. It is the most ambitious EU trade deal with a developing country when it comes to sustainability provisions such as climate and environmental protection and labour rights.
Executive Vice-President and Commissioner for Trade, Valdis Dombrovskis, said: “Concluding negotiations for an Agreement with Kenya – the economic hub of East Africa – is a historic moment. It puts us firmly on the path towards a privileged relationship based on trust, rules and opportunity. It will bring our regions closer, and unlock new areas of cooperation and mutual benefit for our workers, businesses and traders. This Agreement enshrines a shared commitment to sustainable development, including labour rights, the environment and climate action. We now look forward to quick ratification so we can make this deepened cooperation a reality.”
The EPA will create even more opportunities for Kenyan businesses and exporters, as it will at once fully open the EU market for Kenyan products, and it will incentivise EU investment to Kenya thanks to increased legal certainty and stability.
You can find more information in our press release.