The Nation (Nairobi)

East Africa: Date Set for Signing EAC Market Protocol

By Zephania Ubwani, 23 October 2009

Arusha — The signing of the long-awaited East African Community Common Market Protocol will finally take place during the climax of EAC's 10th anniversary on November 20, 2009 in Arusha, Tanzania the secretariat has confirmed.

This will mean that when the protocol comes into force next July, there will be free movement of goods from one EAC country to the other. Industries in the region will also have to set their sights on serving a larger market comprising over 100 million people within the region.

The protocol will be signed by the five EAC heads of state during their summit here, according to a statement by the directorate of corporate information and public affairs.

The EAC common market is among key areas of regional economic integration, which was launched in January 2005. It will also be a significant step towards the envisaged monetary union.

The foundation stone for EAC's headquarters complex to be constructed in Arusha will also be performed by the presidents of Tanzania, Uganda, Kenya, Burundi and Rwanda.

Tagged: Business, Business, East Africa, Trade

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Comments 1 to 1 of 1 Post a comment

  • Fred Njehu
    Oct 26 2009, 07:51
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    The integration process needs to oncoperate all the elements in order to acheive its objectives. First eliminate th e internal tariffs so as to have a common external tariff. secondly, simplify the rules of origin so as to facilitate preferences for goods wholy produced in the EAC region--This will enhance INtra-EAC trade. Other critical measures rthat cannot be ignored is the harmonization of programs and strengthening of institutions.