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NAIROBI, September 8, 2024 — The Hon. Dr. Erick Rutto, President of the Kenya National Chamber of Commerce and Industry (KNCCI), attended a distinguished dinner on Friday evening hosted by Ms. Henriette Geiger, the European Union (EU) Ambassador to Kenya. The dinner, held in honor of Ms. Dora Correia, Director at the EU Directorate-General for Trade, was a pivotal moment in the ongoing efforts to strengthen trade relations between Kenya and the European Union.
The gathering, which took place in Nairobi, focused on enhancing market access for Kenyan products in Europe, with a particular emphasis on aligning Kenya’s export strategies with Europe’s evolving market demands. Dr. Rutto underscored the necessity of tapping into sustainable and high-value sectors, which are becoming increasingly important to European consumers. He emphasized that adapting to these market shifts would be crucial in boosting the global competitiveness of Kenyan businesses.
The discussions during the dinner also touched on the potential for collaborative efforts in capacity building for Small and Medium-sized Enterprises (SMEs). Dr. Rutto expressed optimism that with the right technical assistance and support, Kenyan SMEs could significantly enhance their ability to compete on the global stage. The event was attended by key figures in Kenya’s trade and industry sectors, including Hon. Salim Mvurya, Cabinet Secretary in the Ministry of Investment, Trade, and Industry; Alfred K’Ombudo, Principal Secretary of the State Department of Trade; Dr. Juma Mukhwana, Principal Secretary of the State Department of Industry; and representatives from various development organizations.
This high-level engagement comes on the heels of the recent signing of a long-negotiated Economic Partnership Agreement (EPA) between Kenya and the European Union. The agreement is a landmark in Kenya-EU relations, marking the first comprehensive trade deal between the EU and an African nation since 2016. Under the terms of the EPA, Kenya will enjoy duty-free and quota-free access to the EU, which stands as Kenya’s largest export market. In return, European goods will benefit from progressive tariff reductions, a move expected to foster increased trade flows between the two markets.
The new agreement is seen as a significant step forward in strengthening economic ties between Kenya and the EU, especially at a time when Europe is looking to deepen its engagement with Africa. The deal also comes in the context of increasing competition from China, which has invested heavily in infrastructure projects across the African continent in recent years.
Speaking at the dinner, Dr. Rutto highlighted the opportunities the EPA presents for Kenya. “This agreement not only opens doors for our products in Europe but also sets the stage for deeper cooperation in areas that will enhance the competitiveness of Kenyan businesses globally,” he said.
As Kenya looks to leverage this new agreement, the focus will be on ensuring that its businesses are equipped to meet the demands of the European market, particularly in terms of sustainability and quality. The collaboration between Kenya and the EU in these areas is expected to yield significant benefits for both markets, further cementing their economic partnership.
The evening’s discussions and the newly signed agreement mark a new chapter in Kenya-EU relations, one that promises to bring greater prosperity and opportunities for businesses on both sides.
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