Export Goods to Kenya: British firms will soon start to import goods to Kenya duty free. This follows the Kenya and Britain post Brexit deal. The deal will allow British firms to import their products to the Kenyan market duty free for a period of 25 years.
“The post-Brexit trade deal with the UK will open the window for British companies to flood the local market with finished and unfinished goods that exclude agricultural and industrial products at the expiry of a seven-year moratorium,” said a report that appeared in Business Daily.
Following this deal, the Ministry of Industrialisation, Trade and Enterprise Development has asked Parliament to ratify the Economic Partnership Agreement (EPA) that was signed between Kenya and the United Kingdom of Great Britain and Northern Ireland (UK) on December 8.
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“Kenya is offering to open 82.6 per cent value of total trade to the UK over an extended transition period (up to 25 years with a seven- year moratorium) constituting of mainly raw materials, capital goods, intermediate products and all other essential goods,” Cabinet Secretary Betty Maina said.
According to the report in the daily, Kenya exported Sh. 49.5 billion goods to UK last year up from Sh. 39.7 billion in 2019 while imports from UK dropped to Sh. 29.3 billion from Sh. 35.3 billion over the same period. “Kenya imports vehicles, machinery, nuclear reactors, boilers, pharmaceutical products, printed books, paper and paperboard, articles of pulp, paper and board newspapers, pictures and beverages, spirits and vinegar from UK. It also buys electrical, electronic equipment, textile articles, sets, worn clothing, miscellaneous chemical products, ships, boats, and other floating structures,” the report said. Export Goods to Kenya.