Common Market comes into force

Yesterday, Rwanda joined the rest of the East African Community (EAC) member states in launching the Common Market Protocol. The protocol seeks to allow free movement of people, goods, services, capital and labour within the region, a move that is expected to boost economic growth in the five member states. However, the implementation of the five freedoms as provided for in protocol will be gradual, with some aspects of the Common Market to be implemented at a later stage. Addressing a press conference yesterday to launch the Common Market, the Minister in charge of EAC affairs, Monique Mukarulinza, observed that some freedoms like free movement of persons, rights of establishment and residence will be implemented immediately. Under the free movement of labour and services, Mukarulinza said partner states have identified categories of workers and services that will be accorded free movement immediately according to their respective needs. Under free movement, Rwanda will allow professionals; technicians and associate professionals take place immediately. For the service sector, business, distribution, tourism and travel, financial, communication, transport and education services will also be implemented immediately. Mukarulinza added that national and regional passports will continue to be used until all the member states have introduced electronic national identity cards for their citizens. “All citizens of EAC will have equal rights and are expected to receive equal treatment as nationals of the other EAC partner states. “Priority must also be given to EAC citizens over non citizens from the region. Rwandans should utilize this opportunity to tap into regional opportunities and compete,” she explained. The overriding objective of the Common Market is to widen and deepen cooperation among the partner states in both economic and social fields for the benefit of citizens of the member states. Monique Nsanzabaganwa, the Minister of Commerce, Trade and Industry, said the Common Market will provide enormous opportunities for the business community. “The market offers equal opportunities to all citizens for competition. For our growing private sector, it provides room for mergers and economies of scale,” Nsanzabaganwa said. Speaking on behalf of the private sector, Molly Rwigamba, the acting CEO of the Private Sector Federation observed that the Common Market will provide a bigger market and create competition giving room for the business community to improve their services. “With free movement of labour, our booming construction sector will benefit because they have been employing many people as expatriates from the region who are expensive thereby increasing the cost of doing business,” Rwigamba said. After implementation of the Common Market, the next stage of regional integration process will be a monetary union or single currency and ultimately a political federation. Ends

National

Common Market comes into force