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East African Community

   Also found in: Acronyms, Wikipedia 0.06 sec.

East African Community

Economic alliance established by Kenya, Tanzania, and Uganda in November 2000. It has the goal of forming a Customs Union by 2004, with no internal tariffs, common external tariffs, and free movement of goods, labour, and capital. The aim is to encourage foreign investment in the region. As Kenya had a more established industrial base, Tanzania and Uganda were given a period of adjustment.

At the first meeting in January 2001, EAC members expressed the hope that Burundi and Rwanda would join the alliance.



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The hardback has generated about $500,000 in sales, with the proceeds tapped last April to start building a women's center and school in the East African community.
An earlier East African community in the 1960s, which included a single currency, fell apart.
Those losses were compounded when, as a result of ideological disagreements with its neighbors and partners in the East African Community, Tanzania closed the border with Kenya, terminating the essential common transport and communications service.
 
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