EAC Common Market Protocol ratification for April

Burundian President Pierre Nkurunziza has pledged to have the East African Community Common Market instruments ratified and deposited with the EAC Secretary General by April 30.

Kampala

Burundian President Pierre Nkurunziza has pledged to have the East African Community Common Market instruments ratified and deposited with the EAC Secretary General by April 30.

Speaking at the opening ceremony of the fifth Inter-Parliamentary Relations Seminar, popularly known as the Nanyuki Series, in Burundi last week, Mr Nkurunziza said the ratification of the Common Market Protocol will support businesses in the region by enshrining fundamental freedoms for goods, persons, labour, capital and services.

Instruments to be ratified include consideration of annexes to remove restrictions on free movement of workers, right of establishment, right of residence, harmonisation and mutual recognition of academic and professional qualifications and removal of restrictions on free movement of capital.

The seminar was organised under the theme; The Common Market Protocol: Prospects, Challenges and Opportunities.

The establishment of a regional common market aims at accelerating economic growth and development by strengthening the bloc’s economic status. The three-day seminar aims at giving regional parliamentarians a deeper insight into the recently signed Common Market Protocol, its prospects, opportunities and challenges.

It also seeks to emphasise the role of the National Assemblies and EALA in the process towards the full implementation of the Protocol.
Borders of the five EAC countries will be open in July for free movement of goods and services among partner states.
The Inter-Parliamentary Relations Seminar idea was conceived in Nanyuki - Kenya, in 2003 and it was resolved that the activity be carried out on an annual basis in the Partner States.
Mr Nkurunziza said,: “Nyanyuki Series have proved to be a successful meeting point for sharing experiences and discussing issues of great interest to the EAC, which is strongly committed towards regional integration.”
The objective of the Nanyuki series is to strengthen the functional relationship between EALA and the National Assemblies to widen and deepen knowledge of EAC and the integration process.

The Common Market is the second pillar of the EAC integration schedule. The first, a Customs Union, has been in operation since 2005 and it became fully fledged on January 1, 2010. The Monetary Union is expected to follow and later the political federation.
The seminar is organised by the EA Legislative Assembly (EALA) in conjunction with National Assemblies of EAC Partner States and is attended by regional Members of Parliament, EALA Members, Ministers for EAC affairs, European Union representatives, EAC Ambassadors to Burundi and Permanent Secretaries.