Kenya Eyes U.S. After Tapping Into EU Market Under EPA

3 July 2024
Capital FM (Nairobi)
By Wangechi Purity

Nairobi — Kenyan exports will now access duty-free, quota-free markets in 27 European Union nations following the Economic Partnership Agreement between Kenya and the European Union (EPA).

Speaking during the launch of the TRIFIC Special Economic Zone (SEZ) COSSA program, Trade Cabinet Secretary Rebecca Miano affirmed that international investors are confident about Kenya's economic potential, which offers a great opportunity to seize global markets.

"I want to confirm that the market access we have established in Kenya is quite big and now we must work on increasing our production so that we can satisfy the market because the European Union Economic Partnership agreement came into force," said Miano.

Under the European Union EPA Agreement, all Kenyan exporters will enjoy market opportunities in EU countries, including Austria, Belgium, Croatia, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, the Netherlands, Poland, Portugal, Romania, Slovakia, Spain, and Sweden.

CS Miano commended the TRIFFIC Chanzo ONESPACE Startup and Scaleup Accelerator (COSSA) program, stating that the program will create African tech multinational companies by allowing them to trade globally.

"The launch of the COSSA program in the eyes of my ministry is a significant milestone because it positions Kenya as an innovation and investment hub," she said.

CS Miano revealed that the Ministry has commenced talks on strategic trade and investment partnerships in order to tap into the lucrative market in the United States, having already concluded a comprehensive Economic Partnership Agreement with the United Arab Emirates.

"Recently, we concluded the comprehensive Economic Partnership Agreement with the United Arab Emirates, and now we are discussing trade and investment partnerships with the United States. This gives me a lot of confidence because soon we shall be able to seize this big market," stated Miano.

According to Miano, the Strategic Economic Partnership Agreements will enable Kenyan businesses to expand and succeed in other countries as the government continues to enhance the country's economic potential through pro-investment policies in order to attract direct foreign investment.

Read the original article on Capital FM.

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