Government and private sector players are working on diversifying export products in an effort to maximize on the Kenya-European Union (EU) Economic Partnership Agreement (EPA) and grow the economy by increasing foreign exchange earnings.
State Department for Trade Principal Secretary (PS), Alfred K'ombudo, said that Kenya and the European Union (EU) share strong trade ties, with the EU being one of Kenya's largest trading partners.
The PS explained that the EU is a USD 16 trillion market, absorbing on average 21.1 percent of Kenya's total exports annually.
K'ombudo said that in 2023, Kenya exported to the EU goods valued at USD 1.07 billion against imports of USD 1.6 billion, indicating that the country is nearly closing the gap in the balance of trade.
