East African Community producers and consumers on both sides of all borders) and losers (smugglers and the customs, police and local government officers who currently benefit from bribery at and around the borders) in the border areas. More substantial impact could be attained by a new generation of investments in world-market production based on the region's comparative advantages in natural resources (especially mining and agriculture) and the new tariff structure creates marginally better conditions for world-market exporters, by cheapening inputs and by reducing upward pressures on the exchange rate. On 1 July 2010, Kenyan President Mwai Kibaki launched the East African Common Market
Mwai Kibaki and chairman of the Economic Planning Commission in 1963, he was promoted to Minister of Commerce and Industry in 1966. In 1969, he became Minister of Finance and Economic Planning where he served until 1982. In 1974, Kibaki, facing serious competition for his Donholm Constituency seat from a Mrs. Jael Mbogo, whom he had only narrowly and controversially beaten for the seat in the 1969 elections, moved his political base from Nairobi to his rural home, Othaya, where he was subsequently elected as Member of Parliament. The same year "Time" magazine rated him among the top 100 people in the