President William Ruto has said that European Union -Kenya economic partnership agreement will put money in the pockets of Kenyan traders.
According to Ruto, the partnership will make Kenya the hub for European products in East Africa, in addition to stimulating the country's manufacturing and export of finished products.
"This will put more money in the pockets of Kenyan traders. It anchors Kenya as a natural hub for EU products to East African States," he said on Monday.
The president spoke during the signing of the EU-Kenya economic partnership agreement at State House, Nairobi.
Ruto said the European Union is the second largest partner to Kenya after the World Bank and signing of the agreement represents a huge milestone for Kenya and the East African Community States.
He added that the deal will among others, be critical in Kenya's transition to green energy and the digital economy.
"Although the EU is already Kenya’s largest export destination, accounting for 21.1% of Kenya’s total exports, the Agreement we have negotiated provides significant opportunities to enhance this performance," Ruto said.
"It assures astable market for industrialists, mostly in the European Union, that deal in machinery and mechanical appliances, pharmaceutical products, chemicals, electrical machinery, beverages and other processed products."
Present during the ceremony were President William Ruto, Executive Vice-President and EU Commissioner for Trade, Valdis Dombrovskis, Deputy President Rigathi Gachagua and Industry, Trade and Investment CS Moses Kuria.
