The European Union (EU) and Kenya have a long-standing trade relationship, with the EU being one of Kenya's most important trading partners. However, the EU seeks additional agreements with Kenya in order to further enhance their economic ties and promote sustainable development. In this blog post, we will explore the reasons behind the EU's desire for additional agreements with Kenya trades.
To take advantage of the potential in agriculture, green energy, infrastructure, and technology, the European Union has started trade negotiations with Kenya.
The upcoming EU-Kenya Business Forum themed "Trade and Investment Possibilities in Kenya," will put a special emphasis on trade prospects, according to Martijn Boelen, EU trade counselor and regional trade adviser.
To demonstrate that it's not just about Valentine's Day and flowers, we want to be open. Mangoes and avocados aren't everything. Before the event, which is jointly organized by the EU, its member states, the European Business Council, and the Kenya Private Sector Alliance, Mr. Boelen stated that Kenya could export a wide variety of goods.
However, 15% of Kenya's total exports are consumed in the EU, according to the Kenya Import Export Data. Kenyans import manufactured items from Europe and send flowers and agricultural produce there as well.
Yet, it is projected that the total annual trade value between the EU and Kenya may be approximately €500 million ($533.3 million) higher than the current trade value.
The EU ambassador to Kenya, Henriette Geiger, encourages exporters of fresh food from Kenya to benefit from the shifting demographics of EU nations.
The EU is the largest export market for Kenya, with exports to the EU accounting for around 20% of Kenya's total exports. However, despite this strong trade relationship, there is still room for improvement. The EU seeks additional agreements with Kenya in order to increase trade flows between the two regions and create new opportunities for businesses.
The EU-Kenya Economic Partnership Agreement (EPA) is one such agreement that aims to boost trade between the two regions. The EPA is a comprehensive agreement that covers a wide range of sectors, including agriculture, fisheries, and services. It provides duty-free, quota-free access to the EU market for Kenyan goods and services, and includes provisions for the protection of intellectual property rights and the promotion of sustainable development. Obtain Kenya Import Data
The EU is committed to promoting sustainable development in its trade relationships with partner countries. The EU seeks additional agreements with Kenya trades in order to ensure that trade is not only economically beneficial but also environmentally and socially sustainable.
The EU-Kenya EPA includes a number of provisions aimed at promoting sustainable development, such as measures to promote sustainable fishing practices, protect the environment, and promote the rights of workers. The agreement also includes provisions for technical assistance and capacity building, which can help Kenyan businesses to adopt more sustainable practices.
Kenya is a member of the East African Community (EAC), a regional intergovernmental organization that aims to promote economic integration among its member states. The EU seeks additional agreements with Kenya trades in order to support regional integration and strengthen economic ties between the EU and the EAC.
The EU is currently negotiating an Economic Partnership Agreement with the EAC, which includes Kenya as a member. The agreement aims to create a free trade area between the EU and the EAC, which would promote regional integration and increase trade flows between the two regions.
Non-tariff barriers, such as technical regulations and standards, can pose a significant obstacle to trade between the EU and Kenya. The EU seeks additional agreements with Kenya in order to address these barriers and facilitate trade.
The EU-Kenya EPA includes provisions for the mutual recognition of technical regulations and standards, which can help to reduce the costs and administrative burden associated with compliance. The agreement also includes provisions for the establishment of a joint committee on trade and sustainable development, which can help to address any issues that arise in the implementation of the agreement.
The EU is a leader in innovation and technology, and seeks to share its expertise with partner countries in order to promote economic development. The EU seeks additional agreements with Kenya trades in order to foster innovation and technology transfer, which can help to drive economic growth and create new opportunities for businesses. Get Kenya Export Data
The EU-Kenya EPA includes provisions for the promotion of science, technology, and innovation, as well as for the protection of intellectual property rights. The agreement also includes provisions for the establishment of a joint innovation council, which can help to facilitate collaboration between EU and Kenyan businesses.
The EU seeks additional agreements with Kenya trades in order to strengthen economic ties between the two regions, promote sustainable development, support regional integration, address non-tariff barriers, and foster innovation and technology transfer. Kenyatradedata.com is a leading market research firm and the best Kenya Trade Data that specializes in information on Kenya's import and export trade. It can be used to find the best Kenya export import data. Our experts are always there to provide the best services to help you build your business in the international market if you need any more guidance regarding Kenya Shipping Data or Kenya Customs Data.
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