The East African Community (EAC) is an intergovernmental organization comprising six countries namely Kenya, Uganda, Tanzania, Burundi, Rwanda, and South Sudan. The EAC was established in 1967 and has undergone various transformations over the years. In 2000, the EAC was re-established after a decade of inactivity, with the signing of the EAC Treaty. The EAC Treaty, among other things, created the EAC partner states and established the legal framework for the EAC.
The EAC operates on a number of agreements, with one of the most important being the EAC Common Market Protocol (CMP). The CMP was signed in 2009 and entered into force in 2010. The objective of the CMP is to create a single market among the EAC partner states, with the free movement of goods, services, labor, and capital. The CMP is critical to the integration of the EAC partner states, as it provides for the elimination of non-tariff barriers and harmonization of policies and regulations.
In addition to the CMP, the EAC has also entered into other agreements that are critical to its economic integration. One such agreement is the EAC-EU Economic Partnership Agreement (EPA), which was signed in 2016. The EPA provides for among other things, the gradual reduction of tariffs on goods traded between the EAC and the European Union (EU), the elimination of non-tariff barriers, and the promotion of investments.
Another critical agreement that the EAC has signed is the African Continental Free Trade Area (AfCFTA) agreement. The AfCFTA was signed in 2018 and aims to create a single market among the African Union member states, with the free movement of goods, services, and investments. The EAC partner states have already ratified the AfCFTA agreement, with the aim of taking advantage of the vast market opportunities available within the African continent.
The EAC agreements are critical to the economic integration of the partner states, as they provide for the elimination of trade barriers and harmonization of policies. However, the successful implementation of these agreements requires the commitment of the partner states, as well as the allocation of resources towards their implementation. In addition, the EAC needs to address the challenges of corruption, political instability, and lack of infrastructure, which have hindered its economic integration efforts in the past.
In conclusion, the EAC agreements, including the CMP, EPA, and AfCFTA, are critical to the economic integration of the EAC partner states. The successful implementation of these agreements will require the commitment of the partner states, as well as the resolution of challenges such as corruption and lack of infrastructure. The EAC has the potential to become a significant economic bloc within Africa, and the full implementation of these agreements will be critical to its success.