EAC common market protocol to spur economic growth
EAC common market protocol to spur economic growth
12:53, November 21, 2009 
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The signing of the East Africa Community (EAC) protocol in Arusha on Friday is expected to spur economic growth in the region.
The Common Market which shall be managed in accordance with relevant laws of the East African Community provides for the free movement of goods, persons, labor, services and capital.
The common market further provides for the right of establishment, the right of residence, free movement of services and free movement of capital within the region.
The overriding objective of the Common Market is to widen and deepen cooperation among the partner states in both economic and social fields for the benefit of citizens of the member states.
It is hoped that the agreement reached in the Tanzanian northern town of Arusha will lead to greater economic power for the region.
The East Africans have a chance to gain from the recent discovery of oil in Uganda following the signing of the Common Market Protocol by the heads of the five states that form the East African Community.
Uganda's President Yoweri Museveni told the meeting attended by five presidents at the meeting that marked the approval of the protocol that the oil belongs to East Africa.
"The good thing about oil money, and I mean no offence to agriculture, is that it is more than that from agriculture and can be used for a lot of things. I will be talking to the rest of the heads of state about how East Africans can participate in getting some of that money and using that oil money," he said.
The Ugandan leader said the oil money would be useful in the development of the region's infrastructure, seen as the most crucial part of efforts to come up with a unified political federation by 2015 and a monetary union by 2012.
Kenyan President Mwai Kibaki together with Presidents Jakaya Kikwete of Tanzania, Paul Kagame of Rwanda, Yoweri Museveni of Uganda and Pierre Nkurunziza of Burundi signed the protocol whose negotiation commenced in April 2008 and concluded in September this year.
The regional leaders' 11th Summit of Heads of State of the EAC also coincided with the 10th anniversary since the re-establishment of the regional body.
It is envisaged that the common market shall accelerate economic growth and development of the partner states through the attainment of free movement of goods, persons, labor, services and capital.
Under the protocol which is expected to become effective July 1,2010, the partner states are obligated to guarantee free movement of persons who are citizens of other member states as well as to ensure non-discrimination of the citizens of the partner states.
East African nationals shall also enjoy the freedom to apply for employment, accept offers of employment and to move freely within territories of the partner states for the purpose of employment.
National governments shall, however, limit the free movement of persons on grounds of public policy, public security or public health but must appropriately notify partner states.
The five regional member states therefore committed to allowing entry of citizens of partner states without visa and to leave the territories without restrictions as well as being allowed to stay in the territory of partner states.
President Kibaki in his statement called on EAC member countries to amend legislations that will give the region a uniform identity and create an impetus to the region's integration process.
"I urge all to amend legislations that consider East African citizens as different nationals so as to give effect to this spirit," he said.
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The Common Market which shall be managed in accordance with relevant laws of the East African Community provides for the free movement of goods, persons, labor, services and capital.
The common market further provides for the right of establishment, the right of residence, free movement of services and free movement of capital within the region.
The overriding objective of the Common Market is to widen and deepen cooperation among the partner states in both economic and social fields for the benefit of citizens of the member states.
It is hoped that the agreement reached in the Tanzanian northern town of Arusha will lead to greater economic power for the region.
The East Africans have a chance to gain from the recent discovery of oil in Uganda following the signing of the Common Market Protocol by the heads of the five states that form the East African Community.
Uganda's President Yoweri Museveni told the meeting attended by five presidents at the meeting that marked the approval of the protocol that the oil belongs to East Africa.
"The good thing about oil money, and I mean no offence to agriculture, is that it is more than that from agriculture and can be used for a lot of things. I will be talking to the rest of the heads of state about how East Africans can participate in getting some of that money and using that oil money," he said.
The Ugandan leader said the oil money would be useful in the development of the region's infrastructure, seen as the most crucial part of efforts to come up with a unified political federation by 2015 and a monetary union by 2012.
Kenyan President Mwai Kibaki together with Presidents Jakaya Kikwete of Tanzania, Paul Kagame of Rwanda, Yoweri Museveni of Uganda and Pierre Nkurunziza of Burundi signed the protocol whose negotiation commenced in April 2008 and concluded in September this year.
The regional leaders' 11th Summit of Heads of State of the EAC also coincided with the 10th anniversary since the re-establishment of the regional body.
It is envisaged that the common market shall accelerate economic growth and development of the partner states through the attainment of free movement of goods, persons, labor, services and capital.
Under the protocol which is expected to become effective July 1,2010, the partner states are obligated to guarantee free movement of persons who are citizens of other member states as well as to ensure non-discrimination of the citizens of the partner states.
East African nationals shall also enjoy the freedom to apply for employment, accept offers of employment and to move freely within territories of the partner states for the purpose of employment.
National governments shall, however, limit the free movement of persons on grounds of public policy, public security or public health but must appropriately notify partner states.
The five regional member states therefore committed to allowing entry of citizens of partner states without visa and to leave the territories without restrictions as well as being allowed to stay in the territory of partner states.
President Kibaki in his statement called on EAC member countries to amend legislations that will give the region a uniform identity and create an impetus to the region's integration process.
"I urge all to amend legislations that consider East African citizens as different nationals so as to give effect to this spirit," he said.
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