Regional countries that make up the East African Community (EAC) are supposed to sign the Economic Partnership Agreement (EPA) jointly. The agreement gives the region’s products duty-free export access to European markets. For the EPAs to be valid, the entire region needed to agree to them, but special concessions would remain in place for the least developing countries.
Kenya, therefore, stands to lose the most if export subsidies are withdrawn. However, Tanzania and Uganda have been dragging their feet in reaching the deal.
Kenya Flower Council (KFC) Chairman Richard Fox said failure by Kenya to sign the EPA will subject it to export duty of between 8 per cent and 12 per cent, which will amount to 3 million pounds per month (Sh4 billion/3.5 million euro).
Click here to read the complete article at www.standardmedia.co.ke.
