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mergers and acqusitions

Call for a fully-fledged EAC common market hots up

By Isaac Oganga

EAC Partner States have been urged to set clear timelines for the attainment of a fully-fledged Common Market.

Speaking at the EABC-TMEA Private Sector Pre Heads of State Meeting, Vice Chairman Jaswinder Bedi cited Non- Tariff Barriers, protracted establishment of the EAC Committee on Trade Remedies, work permits, re-testing of product standards, restrictive Bilateral Air Service Agreements continue to curtail the free movement of goods, services, service suppliers, workers, capital, persons as well as rights of establishment and residence.

To achieve that, member states were also told to liberalize the Construction, Environment, Health-related &Social, Recreational, Culture & Sporting services as outlined in their commitment.

Business leaders decried that lack of harmonized domestic taxes create an unleveled playing field in the EAC region.

 

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