UK envoy denies Kenya stands to lose $20 million in no-deal Brexit

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UK High Commissioner to Kenya Nic Hailey. Photo: Courtesy TWITTER

The UK High Commissioner to Kenya says the UK will ensure Kenya retains duty-free and quota-free access for exports with or without a Brexit deal.

Nic Hailey was responding to a report in the Business Daily claimed Kenya stands to lose $20 million (Sh2 billion) in exports if the UK left the EU without an exit deal.

The report cited a study commissioned by the United Nations Conference on Trade and Development (UNCTAD) which says it found that a no-deal exit for the United Kingdom would see Kenyan exports fall by $20 million.

The report states that amount would make Kenya one of the worst affected African economies by a no-deal Brexit.

https://twitter.com/HCNicHailey/status/1116319960589053953

The UNCTAD had warned that a no-deal Brexit would have immediate repercussions for the exports of many developing countries.

Recent research by UNCTAD estimates that the largest losses would be incurred by countries that are more integrated with the UK.

The United Kingdom is one of Kenya’s main trading partners.

Kenya is one of the counties that currently enjoy preferential market access to the UK under terms negotiated with the EU.

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