Authority Vouches for UK Market for Kenyan products
Kenya Investment Authority has continued to champion for a better Kenya especially in matters to do with market exploration in the UK.
This morning KenInvest Managing Director June Chepkemei accompanied Trade Cabinet Secretary MosesKuria to a wholesale fruit, vegetable & flower market in London in an effort to explore and increase Kenyan agricultural products to the United Kingdom market.
On 8 December 2020, the UK and Kenya signed an Economic Partnership Agreement (EPA).
It was signed in London by International Trade Minister Ranil Jayawardena and Kenya’s Cabinet Secretary for Trade, Minister Betty Maina. The agreement was ratified on the 22 March 2021.
This Agreement ensures that all companies operating in Kenya, including British businesses, can continue to benefit from duty-free access to the UK market – saving exporters over £10m every year in duties on products such as green beans and cut flowers.
Kenya will also gradually reduce duties on UK products they have deemed non-sensitive, providing Kenyan businesses with cheaper inputs which can support agricultural development and manufacturing. It does this by gradually phasing out tariffs across the majority of UK exports, covering sectors including machinery and pharmaceuticals.
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The EPA commits the UK to support Kenya with agreement implementation, enhance competitiveness, build trade capabilities and ability to attract investment, as well as further integrate itself into global supply chains.
The agreement is designed with the aim to include all Member States of the East African Community, one of the fastest growing regional economic blocs in the world.
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