EU And Kenya Sign Ambitious Economic Partnership Agreement With Strong Sustainability Provisions
The EU and Kenya today signed an Economic Partnership Agreement (EPA) to boost bilateral trade in goods, increase investment flows, and contribute to sustainable economic growth.
The EPA provides a platform to support job creation on both sides, along with targeted cooperation to enhance Kenya's economic development. It is the most ambitious trade deal ever signed by the EU with a developing country when it comes to sustainability provisions such as climate and environmental protection, labour rights and gender equality.
The signature took place during an official ceremony in Nairobi with European Commission President Ursula von der Leyen and Kenyan President Dr. William Samoei Ruto.
The EU is Kenya's first export destination and second largest trading partner, with a total of €3.3 billion in bilateral trade in 2022 - an increase of 27% compared to 2018. The EPA will create even more opportunities for Kenyan businesses and exporters, as it will fully open the EU market for Kenyan products upon entry into force. It will also incentivise EU investment in Kenya thanks to increased legal certainty and stability.
Source: European Commission