East African Business Week

NAIROBI, KENYA - It is one year since the East African Common Market came into effect.
 The protocol came into effect in July 1, 2010 paving the way for the free movement of goods, labour, services and capital.  The protocol was also expected to stamp out the bureaucracy associated with cross-border business and movement of people.
 In turn East Africans were expected to enjoy free movement of goods, persons, labour, capital, services and the right of establishment and residence under the Common Market.  Like the Customs Union effected earlier, the protocol directly impacts on the lives of East Africans as it seeks to enhance integration through the elimination of restrictions on movement of EAC citizens by allowing them to freely do business across the region.
 Some of the annexes in the protocol include; free movement of persons, free movement of workers, the right of establishment, and the right of residence.  Some of the projected impacts of the single market are the drop in prices of goods and services as well as the availability of more options to consumers in the region.  EAC economies are expected to grow stronger with a single market.  The single market with a population of over 136 million people is expected to attract investments and in turn its people will enjoy the multiplier effects that will come with it.
 According to David Nalo the Permanent secretary in Kenya's Ministry of the East African Community, a lot has happened one year later since the implementation of the Common Market. Nalo notes that since its signing last year all 15 of Kenya's border posts have harmonized immigration procedures, while eight are operating 24 hours.  He says there has been full liberalisation of capital account since last year  making Kenya fully compliant with the Annex on the free Movement of Capital.
 "There is an ongoing standards harmonization process and procedure across Partner States and currently approximately 50 percent of the standards have been harmonized," he says.
 Kenya has since waived the work permit fees for EAC citizens in addition to the fact that applications from EAC citizens to work in Kenya are processed within a shorter period of 30 days.  The EAC partner states have also prioritized projects and programmes in support of the Common market. Among this include five road corridors connecting each of the five partner states.  Work on several sections of the network is ongoing with funding from the Partner States and development partners.