THE EAST AFRICA COMMON MARKET, ARE YOU READY FOR IT?

WHY DO WE WANT A COMMON MARKET?

The underlying principle of why a common market is beneficial is that it allows countries within the region to specialise in those goods and services which they produce most efficiently. It also creates a larger market for Foreign Direct Investment and it allows for efficiency and economies of scale through increased production.

Ask yourself this question, do i have the right entrepreneurship skills, leadership skills, products, or PR skills?

A Ugandan that sees there is a market for his skills or business as i do with IMPACT YOUR WORLD AFRICA, in another country within EAC common market can move or supply services there because there are no barriers to your goals, working, supplying a service or establishing a business in another EAC partner state. People are free to chase the highest wage and those goods, services, and labour that it produces more efficiently than its neighbours.

To give an example, without a Common Market engineers, doctors, teachers, or social and development workers from Kenya do not come to work in Uganda because it takes too long and cost too much to get a work permit. This means that Uganda either has to supply its own engineers or would employ someone from out of the region that can afford the time and money to get a work permit, but also charges higher fees because of this. When the Common Market is in place, engineers from Kenya will find it easier to access the Ugandan labour market, consumers will benefit from lower fees and Uganda can concentrate on training other professions, for example, lawyers, which it can then export to the rest of the EAC. This benefits both individuals and the economy as a whole.

So members what are your plans now, do you have any?. For more information, watch this space.

Pade Brian