KBC Channel 1

Tag: Economic Partnership Agreement (EPA)

  • Kenya is finalizing EU EPA implementation strategy

    Kenya is finalizing EU EPA implementation strategy

    The State Department for Trade is in the final stages of drafting the Kenya-EU Economic Partnership Agreement (EPA) Implementation Strategy, which will provide a comprehensive framework for fully harnessing the benefits of the EPA.

    The draft strategy seeks to increase export growth, diversify export markets from the traditional six countries including Germany, Belgium,Spain, Netherlands, France and Italy to at least half of the EU member states in the next ten years.

    The strategy also aims to expand Kenya’s export basket from the traditional tea, coffee and horticulture into value added and manufactured products.

    The Kenya- EU EPA came into force in July 1,2024 granting Kenyan products market access into the EU quota- free and duty- free while enabling European businesses to benefit from rules based trade environment in Kenya and the wider region.

    A team consisting of senior technical officials from Ministries, Departments and Agencies (MDAs) concluded reviewing the draft in Naivasha providing a collaborative input for the strategy.

    Speaking when she officially closed the workshop Principal Secretary for Trade Regina Ombam underscored the importance of the review process, describing it as a critical exercise aimed at identifying gaps, addressing implementation challenges and proposing actionable solutions to fully harness the benefits of the EPA.

    “It is our responsibility to ensure that the implementation of the EPA is effective and aligns with our national priorities.This worshop therefore provides a platform to develop a robust framework for tracking the progress of the EPA implementation,”said PS Ombam.

    The PS highlighted the importance of EPA in enhancing economic cooperation, expanding market access and strengthening investment opportunities between Kenya and the EU and emphasized the need for effective implementation of the landmark agreement.

    “The signing of the EPA marked a significant milestone in our nation’s trade and development agenda and the strategy is key in ensuring that the opportunities created by the EPA are fully realized for the benefits of our people and nation,”she added.

    The draft strategy focuses on key six thematic areas including Sanitary and Phytosanitary Measures (SPS) to ensure Kenya’s compliance of EU SPS standards to support trade while mitigating risks to plant, animal and human health.

    Others are Trade and Sustainable Development to ensure that trade does not undermine the environment, social well-being and promotes responsible business conduct by all the actors.

    Harmonisation of Customs and Trade Facilitation procedures to facilitate trade, enhancement of Kenya’s capacity to meet EU technical requirements and standards, ensuring Kenyan exports are compliant and tackle issues of Technical Barriers to Trade (TBTs).

    Leveraging on ICT to facilitate Digital Trade and recognition of Structured Commodity as a strategic enabler for increasing Kenya’s export to the EU.

  • Kenya, EU more trade opportunities

    Kenya, EU more trade opportunities

    Kenya and the European Union (EU) have reaffirmed their commitment to fast-tracking the implementation of the Kenya-EU Economic Partnership Agreement (EPA), a landmark trade pact that came into force on July 1, 2024.

    The renewed commitment was made during a courtesy call by EU Ambassador to Kenya, Henriette Geiger, on the Principal Secretary for Trade, Regina Ombam, where the two leaders held in-depth discussions on enhancing bilateral cooperation and fully operationalizing the EPA Council.

    Ombam emphasized the urgency of activating the EPA Council — the top governing body established under the agreement — to effectively steer the agreement’s execution and maximize its benefits.

    “To achieve the full potential of this agreement, the EPA Council must be fully functional and play an active role in guiding its implementation,” said Ombam.

    Geiger echoed the PS’s sentiments, noting that the EPA reflects a shared commitment to building a stable and reliable trading framework between Kenya and the EU, especially in the context of shifting global trade dynamics.

    The Kenya-EU EPA guarantees duty-free and quota-free access for Kenyan exports to the EU market, while offering enhanced cooperation in areas such as trade in goods, investment, and the creation of new value chains. It is expected to diversify Kenya’s exports, attract foreign direct investment, and foster sustainable and inclusive economic growth.

    The two parties also discussed preparations for the upcoming 2nd Kenya-EU Business Forum, set to take place on Monday in Nairobi. Themed “Digitalising Trade”, the forum will bring together high-level policymakers, private sector leaders, innovators, and development partners from both sides.

    Jointly organized by the EU Delegation to Kenya, EU Member States’ embassies, and key Kenyan stakeholders, the forum will explore how digital transformation can enhance trade efficiency, expand market access, and drive inclusive development.

    The strengthened partnership between Kenya and the EU signals a pivotal moment for deepening trade ties and creating resilient, mutually beneficial economic relations.