AFRICA ( Commonwealth Union ) _ At the first-ever UK-Kenya Economic Partnership Council Meeting, which was held in London on Tuesday, March 21, Kenya’s Cabinet Secretary for Trade, Investments, and Industry, Moses Kuria, met Nigel Huddleston, the UK Minister for International Trade.
Working with their respective public and private sectors, both parties decided to quicken the process of removing obstacles to bilateral trade and investment. They also spoke about the good progress made on the £3.5 billion in green investment deals that UK Prime Minister Rishi Sunak and President William Ruto agreed to expedite at COP27.The UK-Kenya Economic Partnership Agreement (EPA), which went into effect in March 2021, calls for the Economic Partnership Council to meet once every two years.
The deal guarantees that all businesses doing business in Kenya, including British companies, will continue to enjoy duty-free access to the UK market, saving exporters over KES 1.5 billion (£10 million) year in duties on goods including green beans and cut flowers.
The deal increases trading prospects for UK companies while helping Kenya’s economy thrive in a sustainable manner. It guarantees jobs for Kenyans while boosting Kenya’s international competitiveness, trade potential, and investment-attractiveness. The EPA has facilitated frictionless commerce for some 2,500 UK companies who send goods to Kenya annually. More than 250,000 Kenyans are employed by British enterprises in Kenya.
The UK-Kenya Economic Partnership Agreement (EPA), which went into effect in March 2021, calls for the Economic Partnership Council to meet once every two years. The deal guarantees that all businesses doing business in Kenya, including British companies, will continue to enjoy duty-free access to the UK market, saving exporters over KES 1.5 billion (£10 million) year in duties on goods including green beans and cut flowers.
Additionally, on his visit to Kenya in 2022, UK Foreign Secretary James Cleverly announced assistance for the African Development Fund (ADF), which assists African communities in developing their economies, creating jobs, and enhancing healthcare.
