Indian exporters require a strategy to tap the East African market
Prof. A.K. Sen Gupta | The Dollar Business The realisation of a large regional economic bloc with a combined population of more than 141.1 million people, land area of 1.82 million sq.km and a combined Gross Domestic Product of $99.8 billion, bears great strategic and geopolitical significance and prospects of a renewed and reinvigorated East African Community (EAC). The East African Community (EAC) is a regional intergovernmental organisation 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 November 30, 1999 and entered into force on July 7, 2000 following its ratification by the original three Partner States ...
Exim Bank Lines of Credit for East Africa to Boost Indias Exports
Satyapal Menon | @TheDollarBiz Mombasa Port in Kenya. Kenya accounts for over 63% of India’s total exports to the EAC. The Export Import Bank of India says that Lines of Credit (LOCs) for the East African Community (EAC) is likely to strengthen India’s position as the top exporter to a region considered a virgin territory for investments and infrastructure development, and as a gateway to rest of Africa. The EAC is a regional group comprising the Republics of Burundi, Kenya, Rwanda, Tanzania, and Uganda. It is considered as a single market with around 125 million consumers, and is among the world’s rapidly growing economic regions. During 2002-2012, global trade of EAC surged more than five-fold from $8.9 billion to $49.3 billion, ...
