The Common Market is the second Regional Integration milestone of the East African Community (EAC), which has been in force since 2010, in line with the provisions of the EAC Treaty. It follows the Customs Union, which became fully-fledged in January 2010.
Together, the five East African countries cover an area of 1.85 million square kilometers and have a population of more than 158 million who share history, language, culture and infrastructure. These advantages provide the Partner States with a unique framework for regional co-operation and integration. The combined Gross Domestic Product (GDP) of the five countries is USD 110.3 billion and an average GDP per capita of USD 769* (*2014 figures). Real GDP growth in the East African Community was 5.8% in 2014 up from 5.3% in 2013. The growth was supported by improved agricultural production coupled with strong domestic demand as well as infrastructural investments.
The future of EAC region looks promising due to interregional infrastructural development, especially in road and railway construction as well as ICT. Further, continued integration is expected to increase economic activities in the partner states. Consequently, the EAC region is projected to register real growth of 6.2% in 2015, with Tanzania expected to record the highest growth of 7.0%.
The workshop will offer a first macro outlook on the EAC Common Market potential and the implication for Dutch Businesses and Investors. Moreover will offer in depth perspective from private sector actors doing business in the region.
The confirmed speakers, include: