A multi-billion shilling trade deal between Kenya and the United Kingdom (UK) has been endorsed by the two countries’ parliaments.
MPs on Tuesday ratified the trade agreement, which is estimated at Sh200 billion, a few days after their UK counterparts did the same.
On Wednesday, British High Commissioner to Kenya Jane Marriott in her tweet noted that the deal will benefit Kenyan and British businesses, workers and the economies.
“Pleased our Economic Partnership Agreement has passed through the UK and Kenyan Parliament. We look forward to the exchange of ratification instruments soon. This is a deal which brings significant benefits for Kenyan and British businesses, workers and our economies,” she tweeted.
The deal, signed between Trade Cabinet Secretary Betty Maina and her UK counterpart Ranil Jayawardena on December 8, 2020, was welcomed with optimism by the business communities in both countries.
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Ms Maina said the agreement will allow Kenyan goods into the UK market duty free. The simplified rules of origin, she added, would allow local traders a diversified export portfolio, helping fast-track the development of local industries.
Kenya’s private sector has also welcomed the trade pact, with Kenya Private Sector Society Chief Executive Carole Kariuki stating that the deal provides an opportunity for investment and growth of local industries, particularly in the wake of Covid-19.
Fresh Produce Exporters Association of Kenya, Fresh produce Consortium of Kenya and the Kenya Flower Council also backed the deal, citing Sh151 billion in horticultural exports to London last year.
