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Kenya faces revenue, job losses as House ratifies UK trade deal March 12, 2021 By DAVID MWERE Kenya is staring at massive losses in revenue following the ratification of the Economic Partnership Agreement with the United Kingdom. The National Assembly ratified the EPA on Tuesday, opening the local market to about 1,934 products from the UK, whose import tariff will either be lowered or zero-rated. The pact, which expires in 25 years, has been adopted at a time the country is facing challenges in financing its obligations. Although the EPA allows for gradual and partial reduction of tariffs, from 95 per cent of the basic duty followed by total elimination, fears abound that a majority of imports are likely to be subjected to zero duty at the point of entry.

United kingdomEconews africaGodfrey osotsiEdgar odariBig fourEconomic partnership agreementStandard gauge railwayAfrican community common external tariffNational assemblyRailway development levyKenya revenue authorityPolicy statementPresident kenyattaEast african community common external tariffImport declaration feesUnited kingdom kenya