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Tuesday, 07 February 2012

The EAC: Following the European model?

As reported by The Citizen, the economic growth rates of the five East African member states exceeded 5 % last year, making the region one of the fastest growing in the world.  Christian Friss Bach, the Danish minister for Development Cooperation, who attended a forum organised by TradeMark East Africa, in Kenya, recognized that this average was impressive and hoped “to take back lessons to Europe”.
Furthermore, Bach highlighted the EAC is among the eight regional economic blocs the most advanced in terms of growth and fast tracked programmes. Comparing the experience of his country, which has benefited from the single European market, he added that he believes “all countries in East Africa can reap similar benefits if the single market in East Africa is implemented”.

Source: The Citizen

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