The Monitor Online reported that 26 African countries will unite to form one single regional market. It is being called a historic moment in Africa because it is helping to build the largest free trade area in Africa.It is also helping Africans realize their dream of having a African Economic Community. Here is an excerpt from that report:
"Economic integration is not enough. There is need for political integration which will bring about a common army to protect the interests of Africa,” Mr Museveni added. The summit also addressed the current global financial crisis undermining economic stability across the world, saying it is posing a serious threat to the growth of the African economies particularly in terms of demand for African exports.
“While Africa and other developing countries had marginal influence over the decisions that have brought the international finance systems to the brink of collapse, unjustifiably African countries will bear the brunt,” Mr Motlanthe told the summit. “Developing countries must be included in the governance of all international financing institutions to mitigate adverse effects on them,” he added.
In a communiqué read by the EAC Secretary General, Ambassador Juma Mwapachu, at the end of the summit, the Recs called for collective action to help African developing and least developing countries to address the adverse impact of the financial crisis and the global economic melt down." (END OF EXCERPT) To read the full article go here:
http://www.monitor.co.ug/artman/publish/news/26_African_countries_form_single_market_73555.shtml
