By Dorothy Musyoka
The Ministry of Trade and Industry has called on local Micro, Small, and Medium Enterprises (MSMEs) to familiarize themselves with the new operational framework introduced today under the Kenya-European Union (EU) Economic Partnership Agreement (EPA).
In a bid to increase awareness and understanding of the EPA’s benefits and operational details, Cabinet Secretary for Trade and Industry, Salim Mvurya, officially inaugurated the Kenya-EU Economic Partnership Agreement Sensitization Workshop today.
Speaking at the event, CS Salim Mvurya emphasized the importance of the EPA for Kenyan businesses, particularly MSMEs, and encouraged them to engage with the agreement’s framework
“I urge local Micro, Small, and Medium Enterprises (MSMEs) to familiarize themselves with the operational framework introduced today to revitalize their operations and expand into new markets, ensuring they are positioned to capitalize on the vast opportunities offered by duty-free access to the EU,” the trade CS said.
According to the CS this initiative aims to revitalize their operations and facilitate expansion into new markets, ensuring they are well-positioned to leverage the extensive opportunities provided by duty-free access to the European Union (EU).
“The Kenya – EU Economic Patnership Agreement (EPA) serves as a critical pillar in enhancing trade and investment relations between Kenya and the EU,” said CS Mvurya.
The Kenya-EU EPA represents a significant milestone in enhancing trade and investment relations between Kenya and the EU.
“It opens vast opportunities for local businesses by enabling Kenyan products to access the European market duty-free while offering substantial incentives to local producers to leverage the enormous €13 trillion European market,” he added.
Additionally, the agreement provides considerable incentives for local producers to capitalize on this vast market, thereby promoting economic growth and development within Kenya.
The event, held in Nairobi, was attended by key stakeholders, including EU Ambassador to Kenya, H.E. Henriette Geiger, and EU Trade Director, Dora Correia.
The Cabinet Secretary was joined by Trade Principal Secretary Alfred K’Ombudo and Industry Principal Secretary Dr. Juma Mukwana, who underscored the need for joint efforts in maximizing the benefits of the EPA.
“The agreement creates opportunities for engagement not just for businesses, but for workers, community leaders, environmentalists, students and other cadres through advisory groups,” noted the PS.
The Kenya-EU Economic Partnership Agreement Sensitization Workshop marks the beginning of a series of engagements aimed at ensuring Kenyan businesses, especially MSMEs, are well-informed and prepared to take full advantage of the new trade opportunities presented by the EPA.