PUBLISHED ON October 15th, 2014

Kenya says EU, EAC trade deal signed

NAIROBI, Oct. 14 (Xinhua) — The Kenyan government said Tuesday talks between the East African Community (EAC) and the European Union on the new Economic Partnership Agreements (EPAs) have been concluded and the deal has been signed.

“Ministry of Foreign Affairs and International trade is pleased to announce that negotiations for Economic Partnership Agreements (EPAs) with the European Union were today finalized and signed in Brussels, Belgium,” said a statement from the ministry of foreign affairs and international trade, adding that the successful conclusion of the negotiations will enable Kenya to continue enjoying duty free, quarter free access to the European market.

EPAs are free trade agreements EU is negotiating with countries in Africa to steadily do away with tariffs on almost all African exports into European market.

Kenya was engaged in the EPA negotiations within the framework of the EAC. The EU is the destination for 60 percent of exports from the African, Caribbean and Pacific region.

Kenya’s fresh produce exporters started paying taxes from Oct. 1 on goods entering the EU as a previous talk did not reach an agreement, because Kenya has a relatively strong industrial and manufacturing base, and could not fall in the Least Developed Countries category for the EPAs.

Source:: Global Post

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