East Africans form common market
Leaders from Kenya, Tanzania, Rwanda, Uganda and Burundi have signed a common market treaty, which allows the free movement of people and goods across the region. They hope it will stimulate East Africa’s economy when it comes into effect in July 2010, and bring jobs and tariff benefits to a regional population of 120 million. As usual, the treaty has its detractors who are afraid that Kenya’s more-developed economy will gain the most, despite Kenyans having paid taxes when the others didn’t, as a way of helping them catch up. The treaty sounds like a good idea in a region plagued by red tape. And as long as it doesn’t collapse into a mire of nepotism and corruption, it’s a step in the right direction. Read more: BBC, The Economist
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