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{
    "id": 1055272,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1055272/?format=api",
    "text_counter": 55,
    "type": "speech",
    "speaker_name": "Mandera South, JP",
    "speaker_title": "Hon. Ali Adan",
    "speaker": {
        "id": 13418,
        "legal_name": "Adan Hajj Ali",
        "slug": "adan-haji-ali"
    },
    "content": "63, food and nutrition security in Article 64 and value chain management aimed at strengthening value. Let us go to the economic impact under the economic benefits. Kenya reaps from the Kenya-UK EPA in the export of agricultural products. There are gains the country has made for the last 43 years under the European Union - African, Caribbean and Pacific (EU-ACP). Trade regime since January 2008 under the East African Community-European Union-Economic Partnership Agreement (EAC-EU-EPA) amounts to Kshs37.6 billion; in 2016, Kshs38.6, in 2017, Kshs40.2 billion and in 2018 Kshs40.1 billion. The balance of trade surplus has been in favour of Kenya raising from Kshs4.1 billion in 2016 to Kshs14.1 billion in 2020. This is one of the rare countries we have a positive balance of trade with between them and us from the time EAC-EPA signed in 2016 to date. There are concerns that if we open our market to the UK, it will flood this market with intermediate and finished goods. The current Agreement was signed in 2016 and we have not witnessed the kind of fears that are being sold now. The moment this market is liberalized, we will have negative balance of trade. So, as at 2020, the balance of trade was in favour of Kenya at Kshs14.1 billion. Our main export to the UK includes tea, cut flowers, fruits and vegetables, coffee, edible nuts and herbs such as thyme and coriander. The export potential in the UK for Kenyan products was valued at US$204 billion; about Kshs20 trillion, in 2019. If Kenya were to target this, it would potentially rise the market share in the UK by 5 per cent. It would translate into export worth Kshs1 trillion, an ambition that Kenya is pursuing over the next first five years under the Integrated National Export Development and Promotion Strategy."
}