Analysis & Opinions - Trade Finance

Breaking Economic Barriers in East Africa

| July 22, 2010

This month five governments in East Africa changed Africa's economic landscape by launching the East African Community (EAC) Common Market. This economic cooperative will break barriers and allow the free movement of goods, labor, services and capital among the member countries.

The five member countries (Burundi, Kenya, Rwanda, Tanzania and Uganda) have established an inter-governmental economic cooperative with a combined GDP of $73 billion.

As the economic crisis was shaking economies around the world, East African governments have reinforced their commitment to deepen their economic integration. This will enable them to compete favorably in global markets.

Through a process that began with the establishment of the EAC Customs Union, the Common Market is the second stage in a four-phase roadmap to make the EAC the strongest economic, social, cultural and political partnership in Africa. The EAC plans...

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For Academic Citation: Juma, Calestous.“Breaking Economic Barriers in East Africa.” Trade Finance, July 22, 2010.