Ethiopia Nears Entry into East Africa Community

Summary:

• Ethiopia is on the brink of joining the East Africa Community, potentially adding 420 million people to the regional bloc. This move reflects a commitment to regional integration and follows Somalia’s recent admission. The EAC is working towards a single currency by year’s end.

Ethiopia is poised to join the East Africa Community (EAC), potentially becoming its newest member state and amplifying the regional bloc’s population to a staggering 420 million individuals. The announcement, disclosed by Kenya’s Cabinet Secretary for the Ministry of East African Community, Peninah Malonza, underscores the advanced discussions between Ethiopia and the Heads of State of the EAC Summit, hinting at an imminent inclusion.

The impending addition of Ethiopia underscores the bloc’s unwavering commitment to fostering regional integration and cooperation, with a particular focus on dismantling trade barriers through an expanded membership within the single customs union framework. This development closely follows Somalia’s recent admission into the bloc, indicative of a burgeoning momentum towards greater unity among East African nations.

Somalia’s formal integration into the EAC received unanimous approval from the region’s leaders during the 23rd ordinary summit of heads of state, held in Arusha, Tanzania. Concurrently, as Ethiopia gears up for its forthcoming membership, member states of the EAC are actively engaged in harmonizing crucial policies and laying the groundwork for essential institutions to facilitate the realization of a unified currency for the region.

This strategic move aligns with the objectives delineated in the EAC Monetary Union Protocol, with aspirations to achieve this significant milestone by the culmination of the year.