President William Ruto has called for the creation of a joint entity by Kenya and the European Union to facilitate trade partnerships and employment between Nairobi and Europe.
President Ruto challenged the Kenya National Chamber of Commerce and Industry (KNCCI) to work with the European Union Chamber (EuroCham) to establish a Business Council in a move that will benfit thousands of Kenyans should it come to fruition.
Ruto, who spoke during the launch of EuroCham n Nairobi on Monday, sought to champion the strengthening of ties between the EU organ and the government to promote trade as well as climate change efforts.
"A major highlight of today’s engagement is the launch of the European Union Chamber (EuroCham). This marks a new chapter in deepening Kenya-EU private sector collaboration. By promoting trade, sustainable development, stakeholder dialogue, and a better investment climate, EuroCham will play a pivotal role," Ruto said.
"I encourage the establishment of a Kenya-EU Business Council between EuroCham and the Kenya National Chamber of Commerce and Industry to provide a unified voice and a focused agenda."
EuroCham was founded with support from various European business chambers operating in Kenya, including the French Chamber of Commerce in Kenya, Business Ireland Kenya Network, Portuguese Business Council in Kenya, Netherlands Business Hub Kenya, and the Delegation of the European Union to Kenya, and will help expand Kenya's access to Ksh2.46 trillion market in the EU.
The establishment of EuroCham aligns with Kenya's broader economic strategy, particularly following the implementation of the Economic Partnership Agreement (EPA) between Kenya and the EU.
The agreement, effective since July 2024, provides Kenyan businesses with duty-free and quota-free access to the EU market, enhancing trade and investment opportunities.
Additionally, the European Business Council Kenya (EBC) is the umbrella organisation of Business Associations, Chambers of Commerce, or Embassies’ Trade Services from the 17 European countries.
EBC Kenya, through its 17 member organisations, represents 600 European companies on site in Kenya with investments of around Ksh287.4 billion and directly employing 350,000 Kenyans, according to data from the EU.
For most European companies, Kenya serves as the hub and headquarters for their operations in the entire East African region.
Meanwhile, President Ruto revealed that Kenya will push for more continental priorities in trade, investment, and sustainable development.
''I look forward to the upcoming African Union-European Union Ministerial Meeting later this month in Brussels, where we will advance continental priorities in trade, investment, and sustainable development,'' Ruto stated.
