By Milcah Tanimu
In a significant development, Kenya and the European Union (EU) have officially signed an Economic Partnership Agreement aimed at fostering stronger economic ties and boosting the flow of goods between the two markets. The trade deal was signed during a ceremony in Nairobi attended by Kenyan President William Ruto and European Commission chief Ursula von der Leyen. Under the agreement, Kenya secures duty-free and quota-free access to the EU, its largest export market, while European goods will benefit from progressive tariff reductions.
President Ruto emphasized that the Economic Partnership Agreement marks the beginning of a historic partnership for transformative economic growth. He highlighted the agreement’s core objective to benefit ordinary people by injecting real money into their pockets. Ursula von der Leyen, the EU chief, described the partnership as a “win-win situation on both sides” and encouraged other East African nations to consider joining the pact.
The deal, concluded in June after years of negotiations, is considered the most ambitious economic partnership the EU has with a developing country, according to the European Council. The agreement includes commitments to sustainable development, encompassing areas such as labor rights and environmental protection. However, both the Kenyan and European parliaments must ratify the deal before it becomes effective.
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