Propeling Regional Integration

This is Africa reporting on efforts to bolster regional integration. A bugbear if there ever was one:

Africa accounts for just 3 percent of world trade today, and just 12 percent of that is internal. Underdeveloped transport and power infrastructure, as well as cumbersome regulatory environments and corruption also make it the world’s most expensive business environment. Dominated by fragmented and small economies, the continent lags well behind the likes of Asia, Europe and North America in terms of competitiveness – and as a consequence – struggles to attract large scale private investment outside of the extractive minerals and oil and gas industries.Addressing these challenges will invariably focus attention on Africa’s regional economic communities. While each geographical part of the continent has its own REC, one has quickly emerged as a model for integration; the East African Community. Having broken up in 1977, the EAC was re-established in 1999, and has since then taken significant strides towards building an effective economic and political framework for integration across its five member states – Kenya, Uganda, Tanzania, Burundi and Rwanda.