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Thursday, 10 December 2009

Kenya exports to EU face taxes

The European Union has for the first time indicated that the failure by the East African Community to sign a new trade agreement will lead to introduction of taxes on Kenyan exports to Europe. Kenya exports about 450,000 tonnes of fruits and vegetables to the EU annually and is the number one cut flower exporter to the region. Currently, these products enter the EU duty-free. Horticulture is Kenya’s leading foreign exchange earner, registering an impressive performance of over Sh73 billion from exports during the period ending December 31, 2008. A report by professional services firm, PricewaterhouseCoopers, says that Kenya has become a major supplier of horticultural products, experiencing rapid growth in the past decade. However, without the duty-free and quota-free access to the EU market, the sector would collapse, according to the EU-ACP Sustainability Impact Assessment of Economic Partnership Agreements report. “If Kenya is unable to compete, that does not bode well for sustainability as Kenyan producers act as regional sector leaders”, says the report.

Source: Daily Nation