EAC cross-border investments totalled $583 million last year
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Tanzania, Nov. 29 -- Arusha. The value of cross border investments in the East African Community (EAC) bloc hit a record high of $583 million last year.
That is a multiple times increase from investment worth $190 million in 2010 when the EAC Common Market protocol came into force.
"This is a remarkable increase for the region, which is seeking economic integration," said Mr Edward Kitonsa, an official of the Arusha-based secretariat.
He attributed increased investments within the bloc to the protocol which sought to eliminate investment and trade barriers.
There were a total of 91 investment projects registered in the seven nation bloc last year from 54 projects eleven years ago.
Read: EAC now one of Africa's largest trading areas
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