Economics Trade Agreements Questions Medium
The East African Community (EAC) is a regional intergovernmental organization composed of six member states in East Africa: Burundi, Kenya, Rwanda, South Sudan, Tanzania, and Uganda. It was established in 2000 with the aim of promoting economic integration and cooperation among its member states. The EAC seeks to enhance trade, investment, and economic development within the region by eliminating trade barriers, harmonizing policies, and fostering a common market. It also aims to promote social and cultural integration, as well as political cooperation among its member states. The EAC has implemented various trade agreements, such as the East African Customs Union and the Common Market Protocol, which have facilitated the free movement of goods, services, capital, and labor within the region. Additionally, the EAC has been involved in negotiating trade agreements with other regional blocs and countries, such as the African Continental Free Trade Area (AfCFTA) and the European Union. Overall, the EAC plays a crucial role in promoting regional economic integration and facilitating trade and cooperation among its member states.