Kenya and the European Union have signed a trade deal in a coup for Brussels as it seeks deeper economic ties with Africa in the face of competition from China.
Kenyan President William Ruto presided over a ceremony in Nairobi on Monday to mark the formal conclusion of negotiations for the EU-Kenya Economic Partnership Agreement.
Once ratified and entered into force, Kenya will receive duty-free and quota-free access to the EU, its biggest market where it sends roughly one-fifth of all its exports.
Imports from the EU to Kenya such as chemicals and machinery will receive progressive tariff reductions over a period of 25 years, but some sensitive products will be excluded.
“Today is a very proud moment for Kenya, and I believe a very proud moment for the European Union,” Kenyan Trade Minister Moses Kuria said after signing the accord with EU Trade Commissioner Valdis Dombrovskis.
Kenya’s main exports to the EU are agricultural products, including vegetables, fruits and the country’s famous tea and coffee.
More than 70 percent of Kenya’s cut flowers are destined for Europe.
Ruto, who said the EU was “the second most important development partner for Kenya after the World Bank” said the country’s farmers could be “assured of a predictable market” and the agreement provides new opportunities to boost this trade.
“It ensures a stable market for industrialists, for our farmers, and also industrialists in the European Union,” he said.
Dombrovskis said EU companies had invested 1 billion euros ($1.1bn) in Kenya in the past decade but that there was “a strong appetite” to do more business. “With this deal in place, we have the right platform to do so,” he said.
SOURCE: AL JAZEERA
Follow us on:
IGP Egbetokun has ordered an investigation into Jimoh Abdulquadri’s death in police custody, promising justice…
Donald Trump has rejected suggestions that Elon Musk is the true influence behind the newly…
Tiger Woods' son Charlie has achieved his first golf hole-in-one during the final round of…
New Zealand has rejected the Cook Islands’ proposal for a separate passport, requiring full independence…
Honda and Nissan plan a merger to create the world’s third-largest automaker, aiming to finalise…
Trump has selected ex-bank president Mauricio Claver-Carone as Latin America envoy, despite past misconduct allegations…
View Comments
O7O 4540 6674 }!!!TOKUNBO VEHICLES!!!
TOYOTA 4RUNNER ₦750,000_1mill
TOYOTA HIGHLANDER ₦800,000__1.3mill
TOYOTA LANDCRUISER ₦900,000__2mill
TOYOTA TACOMA ₦850,000___3mill
TOYOTA VENZA ₦900,000___1.8mill
TOYOTA SIENNA ₦800,000
TOYOTA SOQUOIA ₦750,000
TOYOTA PREVIA ₦600,000
TOYOTA PRADO 2.2mill
TOYOTA TUNDRA N1,200,000
Camry 2.4 650 C O R O L L A LE 300
TOYOTA LANDCRUISER ₦900,000__1.5mill
TOYOTA TACOMA ₦850,000
TOYOTA VENZA ₦900,000__1.7mill
TOYOTA SIENNA ₦600,000
TOYOTA SOQUOIA ₦750,000
TOYOTA PREVIA ₦600,000
TOYOTA TUNDRA N1,200,000
O7O 4540 6674}
HONDA ACCORD ₦600,000
HONDA EOD ₦650,000
HONDA ODYSSEY ₦700,000
HONDA BABY BOY ₦500,000
HONDA PILOT ₦700,000___1mill
HONDA CROSSTOUR ₦650,000
HONDA DISCUSSION CONTINUE ₦600,000
TOYOTA 4RUNNER ₦750,000
TOYOTA HIGHLANDER ₦800,000
TOYOTA LANDCRUISER ₦900,000
TOYOTA TACOMA ₦850,000
TOYOTA VENZA ₦900,000__1.8m
TOYOTA SIENNA ₦800,000
TOYOTA SOQUOIA ₦750,000
TOYOTA PREVIA ₦600,000
TOYOTA CAMRY 2.4 650,000
TOYOTA HIACE BUS 900,000
HONDA ACCORD ₦600,000
HONDA EOD ₦650,000
HONDA ODYSSEY ₦700,000
HONDA BABY BOY ₦500,000
HONDA PILOT ₦700,000
HONDA CROSSTOUR ₦650,000
HONDA DISCUSSION CONTINUE ₦600,000
O7O 4540 6674 }
HONDA ACCORD ₦500,000
HONDA CIVIC ₦500,000
HONDA CRV ₦500,000
HONDA CROSSTOUR ₦650,000
HONDA ELEMENT ₦600,000
HONDA PILOT ₦700,000
HONDA ODYSSEY ₦700,000
70_4540_6674
70_4540_6674
RANGE ROVER SPORT 3mill
RANGE ROVER EVOGUE 3.3mill
RANGE ROVER 2.8mill
LEXUS ES300 - ES350 - ES330 800,000__3M
LEXUS RX300 - RX330 - RX350 - RX400 - RX450 ₦700,000
LEXUS LX450 - LX470 -LX570 ₦800,000__2.6mill
LEXUS GX460 - GX470 ₦800,000___4m
LEXUS RC300 - RC350