NAIROBI, Kenya, Nov 3-The Ministry of Industrialization and Trade has today announced that the Kenya – UK tariff-free market access agreement has been concluded, and the deal is set for signing and ratification by the end of the year.
Trade Cabinet Secretary Beth Maina says the partnership will see a great economic boost for the two nations, and Kenya is set to reap big in its key exports such as flowers and fresh produce.
Kenya’s biggest imports from the UK include vehicles, pharmaceuticals, and paper.
“The agreement will provide continuity for businesses, investors, and supply chains besides setting foundations for further economic development,” said Maina.
Once the deal is signed, it will ensure all companies operating in Kenya in addition to the British businesses, can continue to benefit from duty-free access as they export products including vegetables and flowers to their customers back in the UK.
The UK market accounts for 43 percent of total exports of vegetables from Kenya as well as at least 9 percent of cut flowers, and this agreement will support Kenyans working in these sectors by maintaining tariff-free market access to the UK.
“This deal also recognises the importance of the wider region – other members of the East African Community trade block are able to join the agreement when they are ready,” said UK’s British High Commissioner to Kenya Jane Marriot.
Kenyan exports to the UK were recorded at Sh40.08 billion in the 12 months to December 2019, representing 30 percent of Sh133.39 billion total exports to the EU in the period.