Skip links

MADV Global Advice - A Professional Alliance
New EU-Kenya Economic Partnership Agreement

New EU-Kenya Economic Partnership Agreement

Data pubblicazione 24 June 2024
Categoria News

The European Union (EU) and Kenya have signed an ambitious trade agreement implementing, on a bilateral basis, the Economic Partnership Agreement (EPA) between the EU and the East African Community (EAC). On 11 June 2024, the Italian Customs and Monopolies Agency announced that the EPA would enter into force on 1 July 2024.

Main Objectives

1. Promoting Trade and Investment

  • Market Access: Kenyan exports will enjoy duty-free and quota-free access to the EU market, with the exception of arms.
  • Asymmetric Liberalisation: Kenya will gradually open its market to EU imports, excluding sensitive products, with transitional periods designed to support local economic development.
  • Safeguard Measures: Both parties may reintroduce duties in the event of excessive imports disrupting their local economies.

2. Agriculture and Industrial Development

  • Sustainable Development: Focus on food security, rural development and job creation in the agricultural sector.
  • Sanitary and Phytosanitary (SPS) Measures: Cooperation to harmonise sanitary and phytosanitary standards and strengthen Kenya’s capacity to implement them.

3. Sustainability and Social Rights

  • Environmental and Social Commitments: Inclusion of commitments on labour rights, gender equality and environmental protection, with particular attention to the Paris Agreement on climate change.
  • Sustainable Trade: Measures to combat illegal wildlife trade, illegal logging and illegal fishing.
  • Kenya’s Role on Climate: Kenya co-leads the Coalition of Trade Ministers on Climate, underlining its commitment to the fight against global warming.

4. Implementation and Monitoring

  • Institutional Structure: Establishment of ministerial and technical bodies to monitor implementation of the agreement.
  • Civil Society Involvement: Active role for business associations, trade unions and NGOs in implementing trade and sustainable development provisions.
  • Review and Update: Possibility to add new areas of cooperation, such as services and intellectual property rights, within five years of entry into force.

Expected Impact

  • Increase in Trade Flows: In 2022, trade between the EU and Kenya had already reached EUR 3.3 billion, up 27% compared with 2018.
  • Economic Diversification: Improvement of the competitiveness of the Kenyan economy and stronger integration into the global market.
  • Support for Local Agriculture: The EU will provide assistance to help Kenya implement the EPA, supporting local farmers in meeting EU standards.

The EU-Kenya EPA represents a significant milestone, as the first and most ambitious trade agreement with a developing country to include strong sustainability commitments, promoting economic development while addressing global warming.

Sources:

Related news

Explore
Drag