Kenya and the EU sign a duty-free trade deal.
Kenya and the EU have signed a trade
agreement that could give Kenya access to the EU market duty-free if ratified.
The agreement would allow for cheaper Kenyan goods for European buyers, increasing exports and employment growth in Kenya.
The accord should strengthen Kenya's economy.
Praising the historic agreement, President William Ruto of Kenya states that the deal will "facilitate the manufacture and export of Kenyan finished value-added products in Kenya".
On the other hand, Trade Minister Moses Kuria referred to the signing of the EU-Kenya Economic Partnership Agreement with EU Trade Commissioner Valdis Dombrovskis as a "proud moment" for the nation.
About a quarter of Kenya's exports, agricultural goods like vegetables, travel to the European Union, one of the country's largest markets.
Additionally, Kenya hopes to reduce restrictions on EU goods gradually.
According to a statement from the EU, the deal "addresses Kenya's development needs by giving Kenya a longer period to gradually open up its markets" and was therefore balanced.
Hopefully, the trade deal will open more doors for other African countries.