Britain will continue to grant Kenyan products duty-free access to the UK under Economic Partnership Agreement, it has said.
Secretary of state for International Development Penny Mordaunt assured Kenya that Brexit will cut current trade barriers and strengthen bilateral economic relationship and long term prosperity of both countries.
“We now have an opportunity to do more with Kenya to open up trade around the world. This is already an extraordinary trading partnership,” she said.
UK agreed to support president Uhuru Kenyatta’s big four priorities including manufacturing, affordable housing, universal health care and food security.
‘We have agreed on a number of new initiatives aimed at strengthening the relations between the two countries. This will underpin mutual activities to attract investment, increase access to capital, deepen business links, create jobs for millions and support the delivery of president Kenyatta’s four priorities,” said Mordaunt in a joint press statement
The meeting which was organised by the Ministry of Foreign Affairs and chaired by National Treasury cabinet secretary Henry Rotich saw UK welcome Kenya’s confirmation to participate in the Commonwealth Heads of Government Meeting (CHOGM) to be held in April this year. The two countries will also co-host with the International Disability Alliance, the Global Disbility Summit in London in July
Other government officials attended the meeting includes Health CS Cleopa Mailu and his East African Community counterpart Phyllis Kandie. Others were principal secretaries Monica Juma of Foreign Affairs and Cris Kiptoo from the State Department of Trade in the Ministry of Industry, Trade and Co-operatives.
Enhancement of Kenya-UK ties is coming at the time when balance of trade continue to grow in favour of Kenya. According to latest data by the Central Bank of Kenya, Kenya exported goods worth Sh32.28 billion to UK in a period between January to October last year but imported goods worth Sh24.34 billion during the same period
Currently, UK is Kenya’s second most important export destination in Europe after Netherlands which imported goods worth Sh36.56 billion from Kenya between January to October last year. Kenya accounts for 27 per cent of of the fresh produce and 56 per cent of the black tea market in the UK.
Although China has in recent times dethroned UK and US as the biggest source of foreign direct investment for Kenya, UK still accounts for 40 per cent of Kenya’s FDI from Europe.