As the United Kingdom strives to finalize the Brexit Deal, Kenya, and the United Kingdom have signed a trade agreement that will ensure the continuation of goods and services between the two countries.
The UK is currently preparing for the end of its transition period with the European Union with Prime Minister Boris Johnson expected to finalize the deal in the course of this week.
Following the signing between the two nations, the trade agreement will ensure that all companies operating in Kenya, including British businesses, can continue to benefit from duty-free access to the UK market. Kenya says it stands to benefit the most.
According to a joint statement from the UK, the UK-Kenya trade was worth £1.4 billion in 2019. “We have a great opportunity ahead of us,” Betty Maina, Kenya’s trade minister, said in a statement issued from London. Other East African Community members kept off the deal.
“This trade deal will build on the UK and Kenya’s historic ties and is the perfect springboard to increase our trading in the future,” said UK’s Minister for Africa James Duddridge.
International Trade Minister Ranil Jayawardena said: “Today’s agreement is also the first step towards a regional agreement with the East African Community, and I look forward to working with other members to secure an agreement to forge ever-closer trading ties.”
The coming of the Covid-19 pandemic has immensely affected economies around the world, with Kenya not spared. Exports from Kenya to other countries have dropped as a result of countries imposing lockdowns to cut down on the spread of Covid-19.
The second wave seems to be hitting hard than the fast one with countries such as the United Kingdom and France imposing lockdowns for the second time. Kenya is yet to put in place further restrictions but it is still monitoring the curve.