Alfred K'ombudo, principal secretary of the State Department for Trade, has urged traders in Kenya's Lake Region to fully benefit from the newly signed EU Economic Partnership Agreement (EPA). The deal, which was completed on December 18, 2023, gives Kenyan goods duty-free and quota-free trading access to the $16 trillion EU market.

K’ombudo highlighted the EPA’s revolutionary potential while speaking in Kisumu at a sensitization conference for stakeholders from Vihiga, Siaya, and Kisumu counties. The agreement contains a development cooperation component to improve conformity with EU standards and increase export capacity, in addition to allowing Kenyan farmers and businesses to export their primary and manufactured goods.

The Lake Region is well-positioned to succeed in agricultural production due to its large amount of fertile land, abundant natural resources, and temperate climate. In order to fully access the EU market, the PS urged farmers to embrace value addition and diversification. He also emphasized the blue economy's unrealized potential, pointing out that only 0.04% of the $48 billion fish market is supplied by Kenya's exports to the EU.

The State Department for Trade is creating a Multi-Commodity Exchange to solve issues like fragmented production. This program will make it easier to aggregate commodities in quantity, allowing dealers to satisfy significant market demands.

Filippo Amato, the EU Trade Counsellor, commended Kenya for taking the lead in completing the EPA and urged other East African countries to do the same. He pointed out that there are a lot of growth prospects because the collaboration moves the emphasis from conventional exports of minerals and oil to agricultural items.

With more than 21% of Kenya's yearly exports going to the EU, the EPA is a game-changer for the area, boosting economic expansion and international trade competitiveness.