Kenya will engage the United Kingdom in key trade and services deals as the European country seals transitional deals post-BREXIT in March of next year.
Trade Principal Secretary Dr. Chris Kiptoo told the British Chamber of Commerce that Kenya through the National Trade Negotiations Council is keen on ensuring the two countries reach a deal.
Kenya is still uncertain about what post-BREXIT means for her trade and investment especially with the European Union which until recently Britain was part of.
The UK is expected to conclude its exit from EU in March 2019.
Kenya being a member of the EU backed African, Caribbean and Pacific, ACP which enjoy market access to the economic bloc under preferential terms under European Partnership Agreement alongside other EAC member countries is seeking to contain any negative aftermath since UK will no longer be party to the trade treaty.
This is despite EAC member states having not yet jointly signed and ratified the Economic Partnership Agreement with the EU.
Speaking to British Chamber of Commerce delegation, Dr. Kiptoo said Kenya is keen on strengthening existing bilateral relations with UK as it enters transitional agreements.
He said: “Kenya desires to be part of any such transitional arrangements in order to safeguard as well as to continue accessing the UK market Duty-Free-Quota-Free after the UK exits the EU.” Trade and services between Kenya and the UK amounted to KES 210 billion in 2016 while UK total investment in Kenya topped KES 350 billion.
According to the Ministry of Industry and Trade, 220 British companies operate in Kenya covering various sectors.
Dr. Kiptoo says through the national trade policy, Kenya will reignite domestic trade output by targeting wholesale trade, distribution, retail trade and informal trade which will be key enhancing international trade that was valued at USD 49.5 trillion as of 2015.
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