EAC common market protocol to spur economic growth (2)
EAC common market protocol to spur economic growth (2)
12:53, November 21, 2009 
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The president noted that most residents of the region were in support of the federation of the East African countries and to particularly attain the desires of the regional inhabitants.
"There is need for us, therefore, to take the appropriate steps so as to achieve the desires of our people on political federation," he said.
He affirmed that the common market would unlock many benefits among the East African citizens in addition to driving the integration process to the next level of a monetary union.
"The next stage of our integration is the Common Market. I am delighted to note that we are today going to make history by signing the Protocol that will usher in the Common Market for our East Africa region. The Common Market Protocol will be ratified after we sign it today," he said.
President Kibaki commended the initiative of laying the ground for the next stage of the region's integration process of establishing the Monetary Union being spearheaded by the European Central Bank in collaboration with the East African Community Secretariat.
"This study will be useful in informing the process towards the Monetary Union so that by 2012 the East African regional integration will enter the third stage of the roadmap," he said.
President Kibaki, however, asserted that there was need to establish new institutions and hire additional skilled personnel to be able to deliver services and outputs in line with the E.A.C. Treaty and further highlighted on the urgent need for additional funding for the EAC institutions due to increased activities, projects and programs.
During the summit President Kikwete of Tanzania assumed the position of EAC chairman from President Kagame of Rwanda.
In his acceptance remarks President Kikwete thanked the regional heads for appointing him the chairman and promised to execute his duties to the best of his abilities and particularly to fulfill the vision of the East Africans.
The Tanzanian leader further commended President Kagame of Rwanda for the able stewardship of the regional body during his tenure of office.
President Kagame called on the regional heads to ratify the Common Market Protocol immediately to ensure it is implemented as scheduled from 1st July 2010.
The Rwanda President noted that the protocol was one of the successes during his chairmanship and promised to support the incoming chair so that the aspirations and interests of the region are attained.
"We are welcoming a new East Africa of common interests and aspirations. The experiences of the last 10 years have shown us that the borders separating us are superficial. It is now upon East Africans to accelerate the pace as the vision of the full integration is now within reach," said Kagame.
He cited the joint military exercises conducted recently, one of which was dubbed Operation Mlima Kilimanjaro (Operation Mount Kilimanjaro) as one of the ways through which full integration of the region could be attained.
The protocol also enables the free movement of labor, services, capital, goods, people as well the right of establishment, right of residence and the removal of internal taxes charged on goods and services entering from a foreign country.
The five African leaders also laid the foundation for ultra modern head quarters of the East African Community in Arusha.
Source: Xinhua
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"There is need for us, therefore, to take the appropriate steps so as to achieve the desires of our people on political federation," he said.
He affirmed that the common market would unlock many benefits among the East African citizens in addition to driving the integration process to the next level of a monetary union.
"The next stage of our integration is the Common Market. I am delighted to note that we are today going to make history by signing the Protocol that will usher in the Common Market for our East Africa region. The Common Market Protocol will be ratified after we sign it today," he said.
President Kibaki commended the initiative of laying the ground for the next stage of the region's integration process of establishing the Monetary Union being spearheaded by the European Central Bank in collaboration with the East African Community Secretariat.
"This study will be useful in informing the process towards the Monetary Union so that by 2012 the East African regional integration will enter the third stage of the roadmap," he said.
President Kibaki, however, asserted that there was need to establish new institutions and hire additional skilled personnel to be able to deliver services and outputs in line with the E.A.C. Treaty and further highlighted on the urgent need for additional funding for the EAC institutions due to increased activities, projects and programs.
During the summit President Kikwete of Tanzania assumed the position of EAC chairman from President Kagame of Rwanda.
In his acceptance remarks President Kikwete thanked the regional heads for appointing him the chairman and promised to execute his duties to the best of his abilities and particularly to fulfill the vision of the East Africans.
The Tanzanian leader further commended President Kagame of Rwanda for the able stewardship of the regional body during his tenure of office.
President Kagame called on the regional heads to ratify the Common Market Protocol immediately to ensure it is implemented as scheduled from 1st July 2010.
The Rwanda President noted that the protocol was one of the successes during his chairmanship and promised to support the incoming chair so that the aspirations and interests of the region are attained.
"We are welcoming a new East Africa of common interests and aspirations. The experiences of the last 10 years have shown us that the borders separating us are superficial. It is now upon East Africans to accelerate the pace as the vision of the full integration is now within reach," said Kagame.
He cited the joint military exercises conducted recently, one of which was dubbed Operation Mlima Kilimanjaro (Operation Mount Kilimanjaro) as one of the ways through which full integration of the region could be attained.
The protocol also enables the free movement of labor, services, capital, goods, people as well the right of establishment, right of residence and the removal of internal taxes charged on goods and services entering from a foreign country.
The five African leaders also laid the foundation for ultra modern head quarters of the East African Community in Arusha.
Source: Xinhua
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