M a r k e t N e w s

Kenya & United Kingdom Sign Trade Agreement

Posted on : Monday , 11th January 2021

Kenya and the United Kingdom on 8th December 2020 formally signed a trade agreement in London.


Betty Maina, Trade cabinet secretary signed on behalf of Kenya while Ranil Jayawardena, international trade minister signed on behalf of the UK.


The trade deal will enable Kenyan exporters to continue accessing the UK market under a duty free, quota-free arrangement.


The deal specifically touches on coffee, tea, fresh vegetables and cut flowers although it could be expanded in the future to include fish, textile and livestock according to Nairobi.


The United Kingdom market accounts for 43 percent of total exports of vegetables from Kenya as well as at least 9 percent of cut flowers.


Both sides were eager to agree a deal before Britain formally exits the European Union (EU).


“I am gladdened that we have signed a trade agreement with Kenya. This deal makes sure businesses have the certainty they need to continue trading as they do now, livelihoods and supporting jobs in both our countries”, said Ranil Jayawardena the UK’s International Trade Minister.


Kenya’s top exports to the United Kingdom include flowers, vegetables, tea and coffee.


The east African country mostly imports electronics, machinery and technical equipment from London.

Trade between Kenya and the United Kingdom reached $1.8bn in 2019.


The deal will become operational once the national assemblies of both the countries ratify it. It includes clauses that allow other East African Community states (Uganda, Tanzania and Rwanda) to join in the future.

Source : www.abafnz.com
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