This growth in intra-regional trade can be primarily attributed to the continued elimination of non-tariff barriers, the harmonization of product standards, and the admission of the Democratic Republic of Congo (DRC) into the regional bloc.
Trade among the member states of the East African Community (EAC) reached a record $10.9 billion in 2022, up 12.1% from the previous year. Peter Mathuki, Secretary-General of the EAC, revealed the increase on August 16, 2023.
Speaking at a press conference, Mathuki mainly attributed the growth in intra-regional trade to the continued elimination of non-tariff barriers, the harmonization of product standards, and the admission of the Democratic Republic of Congo (DRC) into the regional bloc in March 2022.
He also explained that trade between the EAC’s member states of the bloc could contribute up to 40% of the region's total trade, compared to only 15% in 2022.
The East African Community is headquartered in Arusha, Tanzania. It has seven members: Burundi, Kenya, Rwanda, Tanzania, South Sudan, Uganda, and the DRC. Spanning an area of about 4.8 million square kilometers, the regional bloc pools a market of 300 million consumers and has significant natural resources.
The EAC is one of the most integrated regional economic communities in Africa. It functions as a customs union, with most goods and services being exchanged duty-free between member states, and having a common external tariff with third countries. People, goods, services, and capital can move freely within the shared market.
Cameroon's Constitutional Council declared Paul Biya the winner of the presidential election, secu...
Tunisia to launch first fully digital hospital as part of health reform. Project includes AI diag...
Safaricom's M-Pesa integrated with Ethiopia's national payment network, EthSwitch, on October 27. ...
ECCBC invests $77.6M to expand Morocco plant, boosting output by 40% New lines produce soft ...
Lukoil to sell all international assets to Gunvor amid U.S. sanctions Sale includes key oil stake...
While resource nationalism is growing across the sub-region in nations such as Mali, Niger, and Burkina Faso, Ghana has earned recognition for its stable...
Platform processes 22B+ records daily, boosts speed, security, and insights Move supports MTN’s cloud strategy, AI use, and workforce upskilling MTN...
New tools support pilot performance tracking and emissions reduction goals Move aligns with Ethiopia’s Vision 2030 and Africa’s growing aviation...
Move supports “Refoundation” process but maintains full bloc membership Presidency marked Madagascar’s return after 15-year SADC suspension...
The Namib Erg, also known as the Namib Sand Sea, is one of the most ancient and spectacular desert landscapes on Earth. Stretching along Namibia’s...
CIGAF 2025 hosted 26+ countries to celebrate culinary diversity in Ouagadougou Event featured competitions, demos, and talks on food, culture, and...