New Economic Partnership Agreement between the EU and Kenya
The European Union and Kenya have agreed on the content of a new Economic Partnership Agreement (EPA), which is seen as a significant step forward for trade relations between the two partners. The agreement emphasises the importance of the EU as the most important export market for the East African country and aims to intensify economic exchange and promote development.
Entry into force and ratification
The EPA will enter into force as soon as both parties, the EU and Kenya, have ratified the agreement. These aim to facilitate trade and strengthen economic relations.
Tariff reductions and phased implementation
Kenya's import duties for products from the EU (all goods except for Chapter 93 - arms and ammunition) will be gradually reduced to 80 per cent from 7 - 12 years after the agreement comes into force, and to 0 per cent in a further 8 years.
Economic benefits and adjustment
The agreement (EPA) aims to give Kenya the opportunity to strengthen its economy and at the same time expand its access to European markets.
The Economic Partnership Agreement between the EU and Kenya thus represents an important step towards deeper economic cooperation and sustainable development in both regions.
Until the rules of origin for the export-side issuing of preference certificates can be applied, it is possible to calculate whether a preference certificate can be issued for which country directly in your SAP with the calculation in M.Secure Trade Preference Management, customised to your processes and with the daily updates from Reguvis (formerly the Federal Gazette).
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