Nairobi, Kenya - The Kenyan government and private sector are collaborating to diversify exports and maximize the benefits of the recently ratified Kenya-European Union (EU) Economic Partnership Agreement (EPA). The EPA aims to boost economic growth by increasing foreign exchange earnings.

Alfred K’ombudo, Principal Secretary of the State Department for Trade, emphasized the significance of the EU market, stating that it absorbs over 21% of Kenya's total exports annually. While Kenya exported goods worth USD 1.07 billion to the EU in 2023, imports from the EU amounted to USD 1.6 billion, indicating a narrowing trade deficit.

The EPA, which entered into force in July 2024, grants Kenyan products duty-free and quota-free access to the EU market. To capitalize on this, the government is conducting sensitization workshops across the country to educate stakeholders about the agreement's benefits and opportunities.

K’ombudo highlighted the need for a National Kenya-EU EPA implementation strategy to guide market access priorities, identify necessary interventions, and ensure effective implementation. He urged counties to actively engage with the EU market by developing programs that promote the export of agricultural commodities, manufactured goods, and other high-value products.

EU Ambassador to Kenya, Henriette Geiger, stressed the importance of value addition to agricultural products and the need to focus on high-growth sectors like the creative and digital industries, leveraging Kenya's young and digitally-savvy population.

The EU is also exploring a potential services agreement with Kenya to address the growing youth unemployment and promote job creation. Both parties emphasized the importance of sustainable trade practices, including climate-friendly production and transportation.

[ⓒ Global Economic Times. 무단전재-재배포 금지]