MkukiMoto
Elder Lister
MPs on Tuesday night ratified the Kenya-United Kingdom trade agreement setting the stage for duty-free access to their markets. Trade Committee chairman Adan Haji moved to allay fears that the Kenya-UK Economic Partnership Agreement will open floodgates for the dumping of agricultural goods. The Mandera South MP said the object of the agreement is aligned to Kenya’s food security agenda.
MPs ratify UK-Kenya trade deal (the-star.co.ke)
Kenyan vegetable exports command a 43 per cent share of the UK market, as well as cut flowers at nine per cent. “The export potential in the UK for Kenya products was valued at about Sh20 trillion in 2019. If Kenya were to target this potential will raise the market share in the UK by five per cent. It will translate to exports worth Sh1 trillion, an ambition that Kenya is pursuing,” Adan said.
The agreement is hailed as one that would support Kenyans working in these sectors by maintaining tariff-free market access to the UK. "The Kenya-UK EPA will not only benefit our farmers but also largely shield our economy from losing the over Sh40 billion market in the UK," Adan added. He further assured that infant industries are protected in the deal citing a 10-year period for the local industries to thrive. Nyando MP Jared Okello said the agreement will open up markets for Kenya in the UK.
"The agreement goes straight into the Big Four agenda and feeds into the Vision 2030. There will be jobs, and our shilling will be stronger," the MP said. The approximately 2,500 UK businesses exporting goods to Kenya each year also stand to benefit. Tariff-free access will be guaranteed over time to UK’s machinery, electronics and technical equipment exports. The Trade Committee has listed products designated by Kenya as sensitive, hence will attract hefty import duty if sourced from the United Kingdom. The team drew the ‘sensitive list’ after consultation with the private sector and other stakeholders.
It also took into consideration the industrial and development aspirations of the EAC region as guided by various policy documents. The committee further considered products designated as sensitive under the EAC Common External Tariff. Animal Products, both fresh and processed – including meat, hams, sheep and goat products, horses, swine/pork, will attract duty.
Importation of fisheries products of all kinds - such as tuna; dairy products - milk and milk products; poultry and poultry products - such as birds and eggs, will attract duty.
MPs ratify UK-Kenya trade deal (the-star.co.ke)
Kenyan vegetable exports command a 43 per cent share of the UK market, as well as cut flowers at nine per cent. “The export potential in the UK for Kenya products was valued at about Sh20 trillion in 2019. If Kenya were to target this potential will raise the market share in the UK by five per cent. It will translate to exports worth Sh1 trillion, an ambition that Kenya is pursuing,” Adan said.
The agreement is hailed as one that would support Kenyans working in these sectors by maintaining tariff-free market access to the UK. "The Kenya-UK EPA will not only benefit our farmers but also largely shield our economy from losing the over Sh40 billion market in the UK," Adan added. He further assured that infant industries are protected in the deal citing a 10-year period for the local industries to thrive. Nyando MP Jared Okello said the agreement will open up markets for Kenya in the UK.
"The agreement goes straight into the Big Four agenda and feeds into the Vision 2030. There will be jobs, and our shilling will be stronger," the MP said. The approximately 2,500 UK businesses exporting goods to Kenya each year also stand to benefit. Tariff-free access will be guaranteed over time to UK’s machinery, electronics and technical equipment exports. The Trade Committee has listed products designated by Kenya as sensitive, hence will attract hefty import duty if sourced from the United Kingdom. The team drew the ‘sensitive list’ after consultation with the private sector and other stakeholders.
It also took into consideration the industrial and development aspirations of the EAC region as guided by various policy documents. The committee further considered products designated as sensitive under the EAC Common External Tariff. Animal Products, both fresh and processed – including meat, hams, sheep and goat products, horses, swine/pork, will attract duty.
Importation of fisheries products of all kinds - such as tuna; dairy products - milk and milk products; poultry and poultry products - such as birds and eggs, will attract duty.