BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The EU-Kenya Economic Partnership Agreement has entered into force, representing a key milestone in the EU-Kenya Strategic Partnership.
The agreement will boost bilateral trade in goods, increase investment flows, strengthen the ties between reliable partners, and facilitate mutually advantageous economic relations in a sustainable manner, stimulating job creation and economic growth, according to the European Commission.
The EU-Kenya EPA is the most ambitious deal negotiated with an African country in terms of sustainability, and can serve as a template for other sustainable trade agreements. These commitments include binding provisions on labor issues, gender equality, environment and the fight against climate change.
Kenya is East Africa's main economic hub, and EU-Kenya trade relations have substantial growth potential. The agreement will unlock new economic opportunities, as the EU is Kenya's first export destination and second largest trading partner. Total trade between the EU and Kenya reached EUR3 billion in 2023.
The EPA will also create more opportunities for Kenyan businesses and exporters, as it will fully open the EU market for Kenyan products and incentivise EU investment in Kenya thanks to increased legal certainty and stability.
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