EU-Kenya business forum: Ruto pushes for EU-EAC economic partnership deal

The first European Union-Kenya Business Forum concluded on Wednesday Feb.22 in capital, Nairobi, with Kenya’s William Ruto urging the EU to conclude economic partnership deal with the East African Community (EAC) regional bloc.

The two-day forum brought together more than 500 participants including politicians, business executives, experts and diplomats.

Ruto participated in the signing of an EU funding package for TradeMark Africa on Tuesday that is designed to facilitate a five-year program that will boost Kenya’s exports and support the government in creating a positive business environment. The funding package is worth $27 million dollars bringing together both the public and private sectors of Kenya alongside European financing institutions with the overall aim of achieving a sustainable growth of exports, including transport and logistics.

In his speech, Ruto insisted that for the EU doing business with Kenya is strategic and highly beneficial, while on the other hand access to the EU market will enable Kenya expand its export base and also create employment opportunities. The president also urged the EU to fasten the process of concluding its economic partnership agreement with the EAC. “It is one of the notable interventions that can make a tremendous difference to our economic performance and there is an excellent reason, in the EU’s best interests, to conclude the deals,” he said.

Ruto also noted that despite agriculture being the highest job-creating sector, exporters still face challenges with quality standards and infrastructure among others. He, however, expressed his confidence that “continued consultations and collaboration can unlock these barriers and smoothen the path for stronger trade relationships.”