By WINSLEY MASESE
The ratification of the East African Community (EAC) Common Market Protocol by heads of the five-partner states — Kenya, Tanzania, Uganda, Rwanda and Burundi — opened a new chapter for traders within the bloc.
Producers and consumers will enjoy an increased market size of 127 million people and a combined GDP of Sh5.48 billion ($73million).
Under the protocol, whose operations commence on July 1 this year, there would be free movement of goods, services, labour and capital as well as the right of residence and establishment.
The arrangement foresees a smoothly functioning Customs Union, including complete elimination of all tariff and non-tariff barriers plus a common external tariff.
Records indicate that Kenya has stamped its authority in the region as disclosed during the East Africa Investment Conference held in Uganda from April 28 to 30, and attended by Kenya's Prime Minister Raila Odinga.
During the conference, Uganda's First Deputy Prime Minister and Minister for East African Community Affairs Eriya Kategaya revealed that in 2008, Kenya's volume of trade increased by 91.6 per cent to Sh104.6billion from Sh55.6 billion in 2004.
The Minister also noted that Kenya's revenue collection since the launch of the Customs Union in 2005 greatly improved from Sh188.4 billion in 2001/2 to Sh490.4 billion in 2007/8.
Lack of information
During a sensitisation workshop held at the Tom Mboya Labour College, Kisumu, EAC assistant minister Peter Munya acknowledged lack of information.
"Kenyan citizens do not know what the integration is all about, thus the need to create awareness," he said.
Another step the government has taken includes the setting of desks in various government ministries where information on the EAC and its integration can be disseminated.
"The partner states have also abolished the double registration at a border. What we have is single registration as all the offices have been placed under one roof," he said.
Source: The Standard | Online Edition
0 comments:
Post a Comment