Kenya and the European Union have signed a trade agreement that Kenyan President William Ruto says marks the beginning of a "historic partnership for a historic transformation".
The deal gives Kenya "immediate" access to the European market. EU Commission President Ursula von der Leyen was present at the signing ceremony on Monday morning.
Seven months of negotiations concluded in June and have culminated in an agreement which ensures Kenyan goods enjoy tariff-free and quota-free access to the European market. In turn, European products heading to the East African country will benefit from reduced tariffs.
The pact is part of a wider EU strategy to forge closer economic ties on the African continent, particularly given China’s strong foothold in the region.
Von der Leyen celebrated the partnership as a "win-win situation", inviting other East African countries to join the accord. "We are opening a new chapter in our very strong relationship, and our efforts must now focus on implementation," she declared.
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The European Council described the deal it as the "most ambitious economic partnership" ever concluded with a developing country. It now awaits ratification by the Kenyan and European parliaments.
The agreement also includes commitments to sustainable development, environmental protection, and labour rights, according to a Council statement.
For Kenya, the EU accounts for over 20% of its exports, primarily agricultural produce like fruit and vegetables as well as tea and coffee. It imports machinery, pharmaceuticals and other chemicals from the EU.
Total trade between the two markets hit €3.3 billion in 2022, marking a 27% increase since 2018.
