UK’s Trade Minister Ranil Jayawardena and Kenya’s Trade Cabinet Secretary Betty Maina in London
LONDON, Dec 9 (NNN-AGENCIES) — Kenya and the United Kingdom formally signed a trade agreement ending an era of doing business through protocols of the European Union, from which London will be exiting by the end of December.
Kenya’s Trade Cabinet Secretary Betty Maina and UK’s Trade Minister Ranil Jayawardena signed the document to bring to an end negotiations that had lasted four months.
The trade deal will enable Kenyan exporters of flowers and other fresh vegetables will continue accessing the UK market under a duty free, quota-free arrangement, just the way they did when the UK was in the European Union.
The agreement provides for Kenya’s duty-free, quota-free access to the UK market on specified products. Officials say the list of goods could expand to include textile and livestock and fish and other processed goods; adding to the fresh vegetables, coffee, tea and cut flowers.
The deal can be reviewed in totality every five years and a member state can pull out with a year’s notice.
The new agreement could forestall the possibility of trade disruptions for Kenyan business people, farmers, and exporters after the UK formally exits the European Customs Union on Dec 31.
Maina said that the deal fits in Kenya’s “broader Government policy to expand Kenya’s supply capacity and increase its exports of goods and services to global markets.”
“We want to increase investments, expand the range of exports, increase job opportunities for our people, and create shared prosperity in line with Vision 2030.
Traditionally, the UK has often been among Kenya’s top five export destinations for products averaging about Sh40 billion since 2015, buying coffee, tea, edible vegetables, cut flowers, and fruits.
The UK bought about 30 per cent of Kenyan products sold in the EU and sold Kenya about Sh35 billion worth of goods every year.
Maina hoped the new deal will help drive growth in value additions in agricultural, manufacturing, fisheries, and livestock sectors. Officials say they will target UK markets for meat and fish as well as textiles.
Overall, officials say the new deal can help promote growth, increase production and support regional integration.
Based on Kenyan laws, which are similar to UK’s, the National Assembly will have to ratify the agreement for Nairobi to implement it. — NNN-AGENCIES
