Kenya must take advantage of the seven-year moratorium in the Economic Partnership Agreement (EPA) with the UK to improve her manufacturing competitiveness, the Kenya Association of Manufacturers (KAM) has said. It should also address the cost of doing business to ensure local entities can compete when UK exports to Kenya start enjoying lower duty charges, with the trade deal expected to abolish duty in the long-run. Fourteen years after the entry into force of the agreement, duty will be reduced to 10 per cent with a final abolishment after 15 years. "This is because in the Kenya-UK EPA, and other trade agreements, we shall be operating in a globalized market, and shall have to contend with global competition,” she added. The seven-year moratorium provided by the EPA gives the country an opportunity to revitalize industries, in order to make them competitive before tariff liberalization for UK industries commences, she said, even as she noted the industry is supportive of the trade deal.

Source: The Star March 12, 2021 10:18 UTC