Kenya Sets March as Final Deal for EPA Negotiation with EU

President William Ruto is expected to visit Brussels soon for another round of negotiation on the Economic Partnership Agreement (EPA) with the European Union (EU) as Kenya seeks to have a final deal sealed by end of next month.

This will be a continuation of the back-and-forth EU negotiation after fresh negotiations kicked off officially yesterday following months of silence.

Kenya is eyeing an early flow of investment opportunities through the deal before the EU shifts more focus to the neighbouring East Africa Community (EAC) members with similar talks.

The current two-day EU-Kenya negotiation forum in Nairobi is being spearheaded by a delegation from Kenya’s Ministry of Trade and Investment under Cabinet Secretary Moses Kuria and EU ambassador to Kenya, Henriette Geiger.

The engagement aims to foster European trade and investment relationships in Kenya by highlighting economic opportunities and potential whilst discussing areas for improvement that will go along in improving employment. 

European Union will be seeking to tap opportunities in the agriculture sector, green energy, infrastructure, small businesses, and technology which are at the centre of President Ruto’s economic revival plan.

“There is value in this relationship between Kenya and the EU. A value in engagement, a value in negotiation, and a value in partnership… I’m confident we are off to an excellent start,” Ruto said yesterday during the launch of the EU-Kenya business forum.

The high-level forum is poised to attract 500 to 700 participants from all sectors, comprising business people, investors, and government officials from both sides. European Investment Bank (EIB) has already committed more than  Sh134 billion (€1 billion) to capital support for local businesses in East Africa.

Kenya, a key member of the EAC bloc, signed an interim EPA with the EU early last year but getting the final signature has dragged on due to transition politics and other unresolved areas such as domestic and regional tax policies that are seemingly rattling the EU.

EU ambassador to Kenya, Henriette Geiger, had earlier told the business hub that the earliest projection for a final EPA signature would be between the second and third quarter of 2023, but this could change as Kenya fast-tracks the talks.