The EU and Kenya have inked a trade agreement that will give Kenya access to the EU without duties or a required quota, with prospects of further Eastern African countries to join, Bloomberg reports.The agreement, which comes into force in the beginning of 2024, will allow Kenyan exports to have access to the 28 markets in the EU bloc, though it will reciprocate terms “later and gradually,” Bloomberg quotes negotiators as saying. The agreement will promote Kenyan agriculture exports to the EU and aim to draw European companies to set up their operations to process raw materials in Kenya, according to the outlet.

“The agreement is also open to other East African members,” such as Burundi, Rwanda,Tanzania and Uganda, European Commission Executive Vice-President and Commissioner for Trade, Valdis Dombrovskis reportedly said at a ceremony in Nairobi, according to the outlet. Kenya will engage other East African countries to join the pact, according to Kenyan President William Ruto.

And could potentially expand to include AfCFTA: “Hopefully we can also take this all the way to the Africa Continental Free Trade Area so that we can build a bigger market, build a bigger consensus and be able to do more with the populations that exist between Europe and Africa,” Ruto said.

Malaysia's MISC Group to develop first ammonia-powered engine for deep sea vessels: Malaysian logistics company MISC Group has signed an agreement to develop the world’s first ammonia engines for deep sea ships, Reuters reports, citing a company statement. MISC-owned AET and Akademi Laut Malaysia (ALAM) signed the agreement with Switzerland-based diesel and low-gas engine manufacturer Winterthur Gas & Diesel (WinGD). ALAM, which says the new engines will help decarbonize the global shipping industry, also signed an agreement with shipping classification society and maritime industry advisor DNV to upskill workers in the maritime sector on low carbon and net zero technologies, according to the newswire.

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  • Confectionary group Mars UK and DHL have partnered to open a new GBP 350 mn warehousing logistics facility in London that will reduce Mars’ logistics carbon footprint by 7.7% and remove 1 mn miles a year from roads. (Press release)
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