EAC boss, Juma V. Mwapachu

He adds that East African countries have a well developed agricultural sector which will also help in the growth of industries by providing the needed raw materials.

The East African Common Market which will be operationalised on 1^st July 2010 will allow free movement of labour and capital among the five East African community block Countries of Uganda, Kenya, Tanzania, Burundi and Rwanda.

Mwapachu appealed to all East Africans to embrace and exploit the opportunities available as a result of the East African Common Market for better livelihoods.

However, the real benefits of the East African Common markets are yet to be realized because it doesn’t totally allow free movement of people as East African will still need to carry their passports according to recent remarks by Uganda Minister of East African Affairs Eriya Kategaya.

Other East African countries are scared of East Africa’s industrial and commercial hub of Kenya because it’s financial and industrial power risks swallowing the financial, industrial and informal business sectors of all the other partner states of the East African Community. The Spokesman of the Uganda Kampala City Traders Association Issa Ssekito recently indicated that Ugandan traders are not prepared for the East African Common market because Kenyan traders will swallow their businesses.

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Are We Ready for Common Market?

Ultimate Media

The post EAC boss says common market to spur industrialization first appeared on Uganda Multimedia News & Information.

The five East African Community block member countries are Uganda, Kenya, Rwanda, Tanzania and Burundi.

Warid Telecom

Taneja says the East African Common Market will benefit the manufacturing sector which is dependant on inputs coming from other markets outside Uganda.

The East African Common Market will eliminate internal borders between East African partner states which will make the movement of goods from East African countries cheaper.

Analysts believe the initiative will help East African economic giant Kenya with already established industries to sell to other countries and capital for investment in other countries.

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Uganda traders not ready for East African Common Market

By Solomon Akugizibwe, Ultimate Media

The post Uganda Warid Telecom chief says East African Common Market will not help the industry much first appeared on Uganda Multimedia News & Information.

The East African Common Market slated to commence on 1st July 2010 will enable East Africans freely move their goods, services, labour and capital in all the five East African countries of Uganda, Kenya, Tanzania, Burundi and Rwanda that constitute the bloc.

East African Community flag

The Chairman of EALA, Uganda Chapter Mike Sebalu told journalists at Parliament today that it is not a guarantee that all East African citizens will begin enjoying the free movement as envisaged by many people because it requires every country to enact a legislation that will ensure the free movement of goods and services.

Dorah Byamukama one of Uganda’s representative to the EALA also indicated that the Common Market will require one to have clear identification before they can enjoy such privileges.

Byamukama citing the East African passports indicated that the free movement in East African countries will not exactly be similar to the free movement within one’s own country.

 Byamukama says the onus of implementing the common market policy is now on individual governments by enacting legislation to operationalise it.

By Tiberindwa Zakaria

Ultimate Media

The post Ugandans urged to be cautious on East African Common Market first appeared on Uganda Multimedia News & Information.

The spokesman of the Kampala City Traders Association Issa Ssekito says, the situation is further worsened by the nature of Uganda which is landlocked.

Kampala traders

The East African Common Market Treaty, which is the first of its kind on the African Continent, was signed in 2009, by leaders of the five-member bloc of the East African Community.

The treaty allows free trade, movement and right of residence of all traders who are citizens of the five East African Community countries Uganda, Kenya, Tanzania, Rwanda and Burundi.

Ssekito told Ultimate Media in Kampala today, that Ugandan traders will be easily outcompeted by traders from more industrialized East African countries like Kenya.

He appealed to the East African Community and the Uganda government to first address the challenges faced by Ugandan traders as a result of the implementation of the East African Customs Union before moving to another step.

Countries of the East African Community Bloc have already slashed work permits for their citizens. The initiative aims at allowing free movement of labour to enable the rapid economic growth of the five East Africa Community Countries and reduce the problem of unemployment.

Ultimate Media

The post Uganda traders not ready for East African Common Market first appeared on Uganda Multimedia News & Information.