Kenya moves to ratify UK trade pact

Kenya moves to ratify UK trade pact

The government has moved to ratify its recently concluded trade pact with the United Kingdom (UK) which will mark the final approval stage for the deal.

In a public notice issued on Wednesday, National Assembly Clerk Micheal Sialai subjected the economic partnership agreement (EPA) to public participation ahead of its consideration by the House.

The ratification of the deal which will further involve submissions by the departmental committee on trade and industry is expected to anchor the new trade pact into law.

The new Kenya-UK deal was sealed in December last year charting a way forward to the pair’s trade relations after the end of UK’s transition period from the European Union (EU) on December 31.

Valued at Ksh.207.5 billion (£1.4) billion, the pact assured Kenya of continued access to UK markets on duty and quota free status.

The deal mimics East Africa Community (EAC) existing trade deal with the EU which continues to keep an open door for Kenyan goods in the European Customs Union.

Local fresh produce including flowers, fruits and vegetables are set as the greatest beneficiaries of the completed negotiations.

The Ministry of Trade has assured of the deal’s symbiotic gains having insulated its own local market from counter-productive terms such as dumping at the negotiating table.

Kenyan peers in the EAC will be eyeing similar trading terms having sat out of negotiations initiated last year.