East African Community: Common Market Launched.

The East African Community launched the common market on 1 July 2010, the 4th out of 6 steps the trading area will take before full economic integration. As posted earlier on this website, this really marks an exciting time for the region. Uganda has struck oil inland, Tanzania has proven deposits of oil, Rwanda is in the middle of its 2020 vision programme, Kenya is on the brink of new investments with lowering interest rates, the potential is promising if the bloc can come together. If a recent Gallup poll is to be believed, then it has been well received by all countries, with only Kenya and Tanzania having minor disagreements, over their wealth and land respectively.

The EA should probably extend the roll out of EA single currency, due in 2012, with the global uncertainty, and recent experiences of the Euro, the costs of the currency are greater than the benefits before stability is ensured.