On December 18, the EU and Kenya signed a trade agreement. In its press release, the EU Commission refers to this as the most ambitious agreement with a developing country to date. Ambitious in particular regarding the provisions on climate and environmental protection.
Coffee is one of Kenya’s most important export products. (Image source: Pixabay)
The President of the EU Commission, Ursula von der Leyen, was in Nairobi for the signing and has high hopes for the new agreement: “This agreement will also contribute to sustainable and fair economic growth and open up new opportunities for businesses, which will benefit citizens on both sides.”
Kenya’s second largest trading partner is the EU. In 2022, the trade volume amounted to 3.3 billion euros. The economic agreement is intended to further support bilateral trade. For example, the EU wants to remove customs duties on Kenyan imports. In return, Kenya will liberalize 82.6 percent of EU imports over the next 25 years.
The EU Parliament still has to approve the trade agreement before it comes into force.
Sources: DIHK, EU Commission (German)
