For EAC, Trade Still Out Ahead of Political Integration

The recent buzz about Africa’s economic progress and potential has aroused long-overdue interest from investors. While the bullish mood is largely justified, it should not obscure the fact that many institutional, infrastructural and policy barriers limit the scope for transformational growth. One of the most serious is that African markets are not sufficiently open. African countries simply do not trade enough with each other. This has huge consequences for a continent where 15 countries are landlocked and where colonial-era boundaries have produced many small, resource-poor nations that are not economically viable by themselves. Some African countries have begun to address […]

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