Post-Brexit, the partnership paves the way for continued trade between Kenya and the UK and offers Kenyan exports, particularly those related to horticulture, duty-free access to the UK market.
Providing full duty-free and quota-free market access for goods originating in the East African Community (EAC) Partner States on the UK market in a secure, long-term and predictable manner will be one of the key objectives of the meeting.
A statement from the Ministry of Investment, Trade and Industry reads in part: “The EPA provides a good framework to strengthen strategic cooperation between Kenya and the United Kingdom in the areas of trade, investment, research, innovation and development, both at government and government level. as in the private sector”.
Kenya presents $18 billion worth of bankable investment opportunities for UK investors who have already been contacted by the Kenya Investment Authority.
In the four quarters leading up to the end of Q3 2022, total UK/Kenya trade in goods and services (imports plus exports) was $1.1 billion, according to the UK Department for Business and Trade.
Compared to the four quarters prior to the end of Q3 2021, total UK exports to Kenya during the period amounted to USD 521 million, a decrease of 2.4%.
In the four quarters to the end of Q3 2022, British imports from Kenya totaled US$627 million, up 14.8% from the previous four quarters.
Following discussions in March 2022 and the UK trade and business environment roadshow, the two countries have started to work on market access and business environment issues through the EPA.
