Browsing: EAC 0.3 billion people economy

GDP in East Africa increases to Sh29 trillion after DRC enters alliance. www.theexchange.africa

East Africa GDP hits US$250 billion after DRC’s entry

Regional Markets
  • DRC formally joined the EAC by depositing its instruments of ratification on the EAC Treaty’s accession with the bloc’s secretariat
  • DRC will eliminate constraints on the free movement of individuals and goods, as well as increase intra-EAC exports which presently total USUS$7.4 billion
  • The enlarged membership makes the community larger, with a nearly 50% rise in population, a 22% increase in GDP, and a 79% increase in the territorial area ranging from the Indian to the Atlantic Ocean

On Monday, the Democratic Republic of the Congo (DRC) accomplished the final and most significant step to joining the East African Community (EAC).

At a ceremony conducted at the EAC headquarters in Arusha, Tanzania, the DRC formally joined the EAC by depositing its instruments of ratification on the EAC Treaty’s accession with the bloc’s secretariat.

DRC now has the same rights and benefits as all EAC members to engage in EAC programmes …

President Felix Antoine Tshisekedi signing the treaty of accession at State House, Nairobi. This follows the admission of DR Congo into the EAC as the seventh member of the regional bloc. www.theexchange.africa

DRC boosts EAC’s population to 0.3 billion people

Countries

By strengthening East Africa’s historical ties, DRC’s accession to the community is vital. The accession of DRC will improve both economic and geopolitical ties inside the Community.

A total of five EAC Member States border the Democratic Republic of the Congo: Tanzania, Burundi, Rwanda, Uganda and South Sudan.

To that end, full membership in the EAC would benefit the people of DRC by allowing them visa-free travel to other EAC nations. In addition, the DRC will nominate nine members of the East African Legislative Assembly and justices to the East African Court of Justice, the Community’s judicial authority.

DRC’s eastern area, which relies heavily on the Dar es Salaam and Mombasa ports for its imports and exports, will benefit greatly from the country’s membership in the EAC, he said.

In terms of size, the DRC dwarfs all six EAC Partner States. DR Congo’s landmass is 2.4 million km2 in comparison …