President William Ruto and European Union Trade Commissioner Valdis Dombrovskis have today signed a trade deal at a ceremony held at State House Nairobi.
President Ruto said the Economic Partnership Agreement, seeks to boost trade ties and economic development between the country and the EU.
He further said, the deal will among others stimulate Kenya’s manufacturing and export of finished, value-added products out of Kenya.
“Today’s milestone also represents a giant step forward because this agreement sets the stage for finally bringing EAC partner states into the agreement,” said Ruto.
“A further achievement of the negotiated agreement is that it anchors Kenya as the natural Hub for European companies seeking markets in the EAC, COMESA, SADC and the African Continental Free Trade Area,” he added.
Also present, Deputy President Rigathi Gachagua encouraged the Head of State to continue with bilateral and multilateral diplomacy for the benefit of the country.
“The agreement that has been signed today has been stuck for the last 14 years and within 9 months of your leadership, what appears impossible has been done. Your excellency, this is evident fruition of your hands-on style of management,” said Gachagua.
European goods entering Kenya will see tariffs reduced over a 25-year period under the agreement.
“What a momentous day this is for EU-Kenya relations,” Dombrovskis said.
“I look forward to moving as quickly as possible to (a) signature and the successful implementation of this agreement so that our people and economies can begin feeling its benefits,” he added.
The deal took seven months to negotiate, making it one of the fastest the EU has ever struck.
A newsmaker, reporter and anchor at Pearl Radio, Ndalilah Sharon is witty and savvy.
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