Kenya and the European Union have signed an agreement to enhance economic collaboration.
President William Ruto and EU Commission President Ursula von der Leyen witnessed the agreement signing at State House, Nairobi.
Ruto said the Kenya-European Union Economic Partnership Agreement will boost trade between the two parties.
Through the partnership, Kenya will now enjoy duty and quota-free access to the European market when the agreement is ratified by the European Parliament.
He said access to the 16 trillion-euro market, with a total of 27 countries, will stimulate the growth of manufacturing, value addition and entrepreneurship in the country.
This, he explained, will fast-track the realisation of the country’s Bottom-Up Economic Transformation Agenda by expanding opportunities and increasing earnings.
“At the core of this arrangement is our aspiration to put real money into the pockets of ordinary people,” he said.
“Today, therefore, is a great day for the hardworking hustlers who often make their contribution to job creation, innovation and value addition through the micro-small and medium enterprises and small businesses.”
Ruto also said the agreement “opens the door for East African Community partners” to sign similar deals with the European Union.
He added that signing the agreement is a signal to the world that Kenya is ready to manufacture and export high-value premium products.
He noted that the agreement will attract investments into innovation, capacity development and value addition, among other sectors.
“I trust that this ceremony will inaugurate the arrival of investment in other manufacturing areas, including chemicals, pharmaceuticals, medical supplies and equipment.”
The Kenya leader further said the government would implement robust measures to ensure the country’s products meet European standards.
The Kenyan government is building 500 fresh produce markets and 47 county aggregation and industrial parks with cold rooms to preserve perishable agricultural products like vegetables and avocados and improve their quality.
On the other hand, President Leyen said the agreement would strengthen Kenya’s export capacity and create jobs for the people.
“This agreement is fair and sustainable because it takes into account your need to open your market gradually,” she said.
She said Europe will provide agricultural machinery to boost Kenya’s production capacity.
