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East African Ministers present budget estimates

05 June 2014, 10:36

Nairobi - The East African Council of Ministers has presented a budget estimate of slightly more than $124 million to the East African Legislative Assembly sitting in Arusha, Tanzania.

The budget estimates are for the Financial Year 2014/2015.

Dr Abdallah Sadala Abdallah, Deputy Minister for EAC, Tanzania, presented the Budget Speech on behalf of the Chair of the EAC Council of Ministers, Phyllis Kandie.

The 2014/2015 Budget down from $130 Million in the previous Financial Year, prioritizes operationalization of the single Customs Territory including the setting up of an institutional framework to manage it, the full implementation of the EAC Common Market Protocol with particular focus on free movement of goods, services, labour and capital as well as the implementation of the EAC Industrialisation policy.

Other key areas include development of cross-border infrastructure with particular focus on implementing decisions of the Summit Retreat, implementation of the roadmap towards the EAC Monetary Union, implementation of the Tripartite Free Trade Area (COMESA-EAC-SADC) and the sensitisation of East Africans towards deepened East Africa integration.

Other areas are the implementation of the EAC Strategy on Regional Peace and Security and the implementation of activities under the Political Federation division.

On the Common Market, the Chair remarked that the EAC Common Market Scorecard 2014 launched in February 2014 was a key tool in the implementation of the Protocol.

“The Scorecard should be able to assist Partner States to identify areas of slow or limited progress and foster stronger peer learning to accelerate its implementation,” Abdallah said.

He remarked that further amendments of the national laws to conform to the Common Market Protocol were envisaged for the next Financial Year.

Abdallah noted that the Council of Ministers intends to introduce a Bill to the EALA to deal with challenges been witnessed with regards to implementation of the Protocol.

 – CAJ News

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