If established, the EAC Common Market will introduce additional free movement of goods, services and human resource in the region, a Ugandan minister has said.
Eriya Kategaya, the Minister of East African Community (EAC) Affairs was addressing reporters prior to the East African Community Ministers’ strategic retreat in Kampala that opened today.
“Our concept is that we are trying to look at one economy for East Africa. We are aiming at a ‘Common Market’ that will remove the illogical boarder barriers. When it comes to a market, the link between production, transportation and marketing is very crucial. We want to trade as free as possible. We want to remove barriers in trade to make our economies better to serve the interests of our population,” he said.
He also noted the ‘Common Market’ which is being negotiated will facilitate development of the East African Ports and the Railways.
“Establishment of a Common Market in East Africa has reached a critical stage that demands a reliable, robust and efficient infrastructure to support it. We want to expand the capacity of our ports in terms of capacity and handling services. And the development of railway system and efficient port services are priority areas for integration.
Development of a joint railway is critical for efficient transportation of bulky goods.” he added.
Once the Common Market is in place, the next goal will be to attain a Monetary Union by 2012, ultimately leading to a Political federation of East Africa.