- New Economic Partnership Agreement between the European Union and Kenya has come into effect on July 1, 2024
- The agreement aims to promote bilateral trade, strengthen investment flows, enhance ties between the parties, and boost job creation and economic growth in a sustainable manner
- It is the most comprehensive agreement negotiated with an African country and could serve as a model for future sustainable trade agreements
- Kenya is seen as the main economic hub in East Africa, with significant growth potential in trade relations with the EU
- The total trade value between the EU and Kenya in 2023 was 3 billion EUR, representing a 16% increase from 2018
- The agreement expands free trade opportunities between the EU and Kenya
- Both parties have yet to adopt an origin protocol, but will do so soon, applying the rules of the EU Regulation 2016/1076 in the meantime
Source: awb-international.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
