Kenya is eyeing Kshs1.3 trillion in investments and trade deals through Foreign Direct Investments (FDI) from the UK this year.
The country will be leveraging on the Economic Partnership Agreement (EPA), signed on December 2020 and countersigned in March 2021 to drive the investments. The EPA partnership allows Kenya and UK to maintain trade relations post Brexit and grants Kenyan goods, particularly horticulture exports, duty-free access to the UK Market.
Read: KBC, ICT Authority Ink Partnership Deal To Enhance Access To Digital Technology
This week, a delegation led by the Cabinet Secretary for Investments, Commerce, and Industry Moses Kuria accompanied by, among others Kisumu Governor Peter Anyang’ Nyong’o, travelled to the United Kingdom for an EPA and investments meeting.
Mr. Kuria met and held discussions with UK Minister for International Trade Nigel Huddleston in London on ways to accelerate the removal of trade barriers that hinder bilateral trade between the two countries.
Among the key objectives of the meeting will be to provide full duty-free and quota-free market access conditions for goods originating in EAC Partner States into the UK market on a secure, long-term and predictable basis.
Read: Safaricom, Nairobi Partner To Digitize County Services
It also seeks to preserve and improve market conditions to ensure that all companies operating in Kenya, including British businesses, continue gaining duty-free access to the UK market.
“EPA provides a good framework for strengthening of the strategic cooperation between Kenya and the UK in the areas of trade, investment, research, innovation & development at both government and private sector level,” read a statement from the Ministry of Investments, Trade and Industry.
The forum will provide a platform to explore opportunities between the two countries to grow economic relationship and mutual prosperity.
Email your news TIPS to editor@thesharpdaily.com
