The establishment of the East African common market is the second step in the regional integration process of East Africa, after the Customs Union, and before the establishment of a Monetary Union and Political Federation.
The East African Common Market has the main principle of accelerating economic growth and development of the Partner States through the attainment of the free movement of goods, persons and labour, the rights of establishment and residence and the free movement of services and capital. This will be attained by providing for the free movement of goods; the free movement of persons; the free movement of labour; the right of establishment; the right of residence; the free movement of services; and the free movement of capital between the five partner states of east Africa.
The common market will greatly enhance the trade between the five partner states, making it cheaper to travel, set up businesses, mergers and subsidiaries between companies and businesses between the five partner states.
The free movement of persons and labor will be attained by providing for the standard identification systems, travel documents, free movement of workers, harmonization and mutual recognition of academic and professional qualifications, and harmonization of labor policies, laws and programmes. In the education sector, this will increase the competition between the higher schools of learning, and students will be able to do their courses of choice at affordable rates, and hence pursue the degrees of their dreams.
The right of establishment and residence means that a citizen of East African Community will be able to live anywhere in the region and be accorded the rights and privileges given to a citizen of the country he is living in. This will provide great incentive for the citizens of East African community to travel and intermingle, sharing their experiences with each other, improving business links and social ties within the citizens of all partner countries.For the common market to work, there will be need for much coordination and cooperation between the governments in terms of financial policy, environmental management, research and collection of statistics, industrial development and agricultural and food security, among other issues. If, and this is a very big if, this can be done, then the East African Common Market will open up opportunities for economic and social cooperation on a scale not seen in Africa before. The benefits and opportunities that the East African common market offers for businessmen, professionals, entrepreneurs and the youth are vast, hence it is imperative for the citizens of East Africa to keep their respective governments in check, and ensure the full and quick implementation of the protocol.
Be informed and be a part of the team that will keep the government on its toes to expedite the full implementation of the common market protocol!
