Kenya and UK finally ratify trade deal

KENYA – Kenya and United Kingdom post-Brexit trade agreement has received approvals from lawmakers of both countries, ending months of anxiety between the business community in Kenya and the UK. Kenya and the UK penned, a post-Brexit deal on 3rd November 2020, creating way for a long-term treaty that will shield Kenyan exports from the high tariffs that would apply when UK leaves the EU. Both countries reached a deal on the continuation of duty- and quota-free access of Kenyan exports after the UK finally exits the EU at the end…

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Kenya grants British products 25-year free entry in trade pact

KENYA – British companies will get 25-year tax free period to ship goods to Kenya under the trade agreement signed by the two countries. The post-Brexit trade deal with the United Kingdom will, however, open the window for British companies to flood the Kenyan market with finished and unfinished goods that exclude agricultural and industrial products at the expiry of a seven-year moratorium. The details of the trade agreement were revealed by Kenya’s Ministry of Industrialisation, Trade and Enterprise Development as it asked Parliament to ratify the Economic Partnership Agreement…

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Car maker Mobius opens new US$3m factory in Nairobi

KENYA – Carmaker Mobius Motors has opened a new US$ million manufacturing plant in Nairobi with the firm’s Chief Operating Officer Nicolas Guibert saying during the factory’s launch that at least eight units will be produced from the Mombasa Road plant daily. He said the company will double its workforce once the factory is fully operational. “I would like to thank Treasury and the Ministry of Industrialization for the support they have given us as we built the design of the new car, Mobius II, and worked hard to establish…

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Kenya-UK sign trade agreement to promote regional trade

KENYA – Kenya and the United Kingdom have signed a strategic Economic Partnership Agreement (EPA), following the conclusion of recent negotiations between the two countries. The agreement, to secure the mutual interests of the two partners after Brexit, replicates the effects of the East African Community (EPA) with the European Union that facilitates EAC exports, free of duties and quotas, to the European Union market. Kenya’s Trade Cabinet Secretary Betty Maina said it is grounded on the vision of President Uhuru Kenyatta and UK Prime Minister Boris Johnson. “We have…

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UK risks losing up to 14% of its exports to the EU in a “no-deal” Brexit, UN Study reveals

UNITED KINGDOM – Non-tariff measures (NTMs) could cause major fractures in post-exit trade relations between the United Kingdom (UK) and the European Union (EU), knocking up to US$32 billion, or 14 per cent, off of UK exports to the EU, according to a new UNCTAD study. NTMs are policy measures other than ordinary customs tariffs that can potentially have an economic effect on international trade in goods, changing quantities traded, or prices, or both. They are the key factors mediating market access in the world economy. Potential losses under a…

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