EAST AFRICA COMMON MARKET DEAL
Nov 23rd, 2009 by admin
The East African Community has agreed on a common market trade treaty that will allow the free flow of people, services, capital and goods across the region. The deal was signed last Friday during a meeting of the presidents of the bloc’s five member states: Burundi, Kenya, Rwanda, Tanzania and Uganda. It should be ratified and come into effect by July 2010, according to officials. The implementation of the common market treaty is expected to pitch East Africa into a new stage of development. It is hoped it will attract more foreign investment and stimulate regional economic competitiveness. However, analysts have expressed concerns about the risk of Kenya’s heavyweight economy dominating regional trade.
