East African Integration: an assessment of the financial opportunities for Kenya

Abstract

Integration' refers to a much more formal arrangement that involves some political and economic sacrifices as well as commitments, concessions, processes and political will to redefine participation in the international ecohomy, In this regard regional cooperation may be a phase in the process of regional integration. Integration can be said to exist when units join together in order to satisfy objectives which they cannot meet autonomously. In this way, integration can be a process which hastens up the achievement of certain objectives in the interest of a larger body.

The main goal for the East African Community stems from the desire by the governments of the EAC countries to improve the standard of living of the population through increased competitiveness, value-added production, trade and investment. Regional integration is seen as a rational response to the difficulties faced by a continent with many small national markets and landlocked countries Kenya like most countries in Africa has been part of regional integration both in Africa and in the world. Kenya is a member of The East African Community (EAC).

The East African Community is the regional intergovernmental organization of the Republics of Burundi, Kenya, Rwanda, Uganda and the United Republic of Tanzania with its Headquarters in Arusha, Tanzania. The Treaty for Establishment of the East African Community was signed on 30th November 1999 and entered into force on 7th July 2000 following its ratification by the Original 3 Partner States - Kenya, Uganda and Tanzania.