The EAC common market, which consists of Burundi, Kenya, Rwanda, South Sudan, Tanzania and Uganda, was set up in 2010 to allow the free movement of goods and people across borders, and is one of the most advanced trading blocs on the continent.
The country, which produces minerals including copper and cobalt, in demand for battery vehicles, and diamonds, will join a common market of close to 200 million people with a combined annual economic output of $193 billion as of 2019. EAC-based businesses, including Kenya’s top lender Equity Group, have established operations in DRC in anticipation of its integration into the trade bloc.
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East Africa bloc becomes $250bn market as Congo joinsThe Democratic Republic of Congo joined the East African Community, bringing the regional trading bloc’s market size to a quarter of the continent’s population and providing it with access to the Atlantic Ocean. Moneyweb AfricaNews
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