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Kenya and Burundi are set to sign an agreement that will see them sell agricultural products to Europe duty-free.
The deal will be signed next week after a Sectoral Council of Trade, Industry, Finance and Investment by the region's countries.
A meeting of ministers responsible for East African affairs met on June 30 and proposed the agreement be signed on July 18.
All four partner states, except Tanzania, agreed to sign the agreement.
The decision by Tanzania not to sign the deal leaves the region, and specifically Kenya, at a great risk of losing revenue when exporting goods to the European Union.
"In the event we fail to sign the Economic Partnership Agreement (EPAs) as a bloc, all EAC partner states stand to lose generous market access terms negotiated under the EU market," said Deputy President William Ruto.
Ruto, who spoke after meeting Burundi President Pierre Nkurunziza in Bujumbura Tuesday, termed the deal a chance to increase trade.
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Kenya to sign EU exports deal with Burundi
By DPPS | Wednesday, Jul 13th 2016 at 22:52
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Kenya and Burundi are set to sign an agreement that will see them sell agricultural products to Europe duty-free.
The deal will be signed next week after a Sectoral Council of Trade, Industry, Finance and Investment by the region's countries.
A meeting of ministers responsible for East African affairs met on June 30 and proposed the agreement be signed on July 18.
All four partner states, except Tanzania, agreed to sign the agreement.
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Kenya to sign EU exports deal with Burundi
The deal will be signed next week after a Sectoral Council of Trade, Industry, Finance and Investment by the region's countries.
A meeting of ministers responsible for East African affairs met on June 30 and proposed the agreement be signed on July 18.
All four partner states, except Tanzania, agreed to sign the agreement.
The decision by Tanzania not to sign the deal leaves the region, and specifically Kenya, at a great risk of losing revenue when exporting goods to the European Union.
"In the event we fail to sign the Economic Partnership Agreement (EPAs) as a bloc, all EAC partner states stand to lose generous market access terms negotiated under the EU market," said Deputy President William Ruto.
Ruto, who spoke after meeting Burundi President Pierre Nkurunziza in Bujumbura Tuesday, termed the deal a chance to increase trade.
Standard Digital Mobile
Search...
Business News
Home Business News
Kenya to sign EU exports deal with Burundi
By DPPS | Wednesday, Jul 13th 2016 at 22:52
Share this story:
Share on Facebook Share on Twitter Share on Linkedin Share on Google Plus Share on WhatsApp
Kenya and Burundi are set to sign an agreement that will see them sell agricultural products to Europe duty-free.
The deal will be signed next week after a Sectoral Council of Trade, Industry, Finance and Investment by the region's countries.
A meeting of ministers responsible for East African affairs met on June 30 and proposed the agreement be signed on July 18.
All four partner states, except Tanzania, agreed to sign the agreement.
READ MORE
EU launches instruments to boost investments in start-ups, urban development
Brexit costs fruit exporters Sh8m a day as Pound hit
Britain's EU exit will not affect tourism at Coast, hoteliers say
Kenya to sign EU exports deal with Burundi