East African Common Market Opens: People, Money, and Products Move Freely
Yesterday, five East African countries formed a regional common market, which will allow people, products, and money to move freely through Uganda, Kenya, Rwanda, Tanzania, and Burundi. Between 125 and 140 million East Africans live in these five countries.
On Thursday, five East African countries formed one common market. Daily Monitor.
The region hopes to form a monetary union by 2012, and a common currency by 2015. A customs union, which already exists, was established in 2005. The countries are also working on creating one tourist visa, and a regional railway line that would run from the Indian Ocean to Burundi’s Lake Tanganyika, the New York Times reported on July 1st.
Some Ugandans worry that countries like Kenya will be more able to take advantage of the common market, due to better roads and energy infrastructure. Production costs are higher in Uganda, making it harder to compete with other East African businesses, according to reporting by the People’s Daily Online.
Ugandans seeking jobs in neighboring countries will now be able to move freely, without seeking a work permit. A Ugandan teacher, for instance, could move to Kenya and receive a higher salary. Most service providers in East Africa can compete freely with domestic providers in Uganda. However, a few service providers, such as some retail and computer-related services, will be protected by the Ugandan government until different 2012 and 2015 deadlines for regional integration.
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