The treaty signed last week between the European Union and the East African Community member states has substantially revived the struggling textile industry of Kenya.
This recent contract between the two regions provides local manufacturers with access to potential markets in EU. Earlier, these export markets had been limited to US under the African Growth and Opportunity Act (Agoa). However, following the treaty, Kenya textile industries will not only get stimulation but will also be able to channelize Foreign Direct Investments (FDI) from Europe to the sub sectors.
Investments from Europe would be furnished in the form of new technology that will help sub sectors in value added cotton production. Under the current contract signed, Kenya will be allowed a duty free access to European market.
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