East African Community: What a DRC membership could mean for the regional bloc
The East African Community member states are eyeing the Democratic Republic of Congo market of 86.7 million people and are eager to have the vast country join the bloc. Economic Analyst, Ted Kaberuka joins CNBC Africa for more.
Fri, 12 Mar 2021 10:11:43 GMT
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AI Generated Summary
- The significance of DRC's potential membership in the East African Community validates the importance of the regional bloc as a key player in the African economic landscape.
- The delayed acceptance of the DRC into the East African Community can be attributed to both external factors like the COVID-19 pandemic and internal challenges within the community.
- The strategic advantages of having DRC as a member, including geographical connectivity, demographic growth, economic benefits, and security considerations, highlight the potential mutual gains for both DRC and existing East African Community members.
The East African Community is eyeing the Democratic Republic of Congo with its market of over 86.7 million people, as the vast country has shown interest in joining the regional bloc. Economic Analyst, Ted Kaberuka, elaborates on the significance of DRC's potential membership in the East African Community. Kaberuka emphasizes that the membership of a big country like the DRC would validate the importance of the East African Community as a regional bloc. He notes that the willingness of both sides, the community and the new member, to integrate the population of the region is crucial for the mutual benefit and growth of all involved parties. Kaberuka predicts that in the near future, more countries may also seek to join the East African Community due to its strong reasons for membership.
Looking at the delayed acceptance of the DRC into the East African Community, Kaberuka points out external factors such as the challenges posed by the COVID-19 pandemic in 2020, which hindered physical meetings and operational processes. He also mentions internal challenges faced by the East African Community, including budgetary constraints and operational issues, which could have impacted the speed of processing the DRC's membership application. Nonetheless, Kaberuka views the acceptance of the DRC as a positive development for the community.
From a strategic perspective, Kaberuka highlights the geographical advantage of having DRC as a member, as it would connect the East to the West, enabling the East African Community to span from the Indian Ocean to the Atlantic Ocean. He emphasizes the demographic appeal of the DRC with its vast market size, which would significantly increase the population of the East African Community. Additionally, he underscores the potential economic benefits in terms of trade, commerce, and tourism that DRC brings to the table, with its rich natural resources and agricultural exports.
Addressing concerns about security and stability in the region, particularly in light of President Felix Tshisekedi's efforts to promote peace and security in the DRC, Kaberuka believes that these initiatives could actually accelerate the DRC's admission into the East African Community. By demonstrating a commitment to stabilize the country and collaborating with neighboring East African countries to address security challenges, Tshisekedi's efforts could strengthen the case for DRC's membership in the regional bloc.
In conclusion, the potential membership of the Democratic Republic of Congo in the East African Community holds promising opportunities for both the country and the existing member states. By leveraging DRC's resources, market potential, and geographical position, the East African Community stands to benefit greatly from the inclusion of such a significant player in the region's economic landscape. As discussions and negotiations progress, the focus on security cooperation, economic growth, and regional integration will be crucial in shaping the future of the East African Community with DRC as a key partner.