The GDP of countries such as Kenya, Uganda, Tanzania and Rwanda is projected to grow significantly in the coming years.
According to the World Bank, the African Continental Free Trade Area was well designed to strengthen East African economies.
This will be achieved, among other things, by reducing trade expenditures related to trade facilitation, as well as reducing the costs of non-tariff policies and non-tariff barriers. According to the executive director of the East African Business Council,
John Bosco Kalisa, the implementation of the Free Trade Area policies "will certainly boost the East African economy", adding that "the continental trade protocol aims to increase real income of East Africans”.
“Rapid implementation of the continental trade agreement would be advantageous”, real income is forecast to increase by 10% in Tanzania, the region's second-largest economy, between 2021 and 2035. Real income will increase by 11.8%, 3.8% and 3.6% in Kenya, Uganda and Rwanda, respectively.
