NAIROBI, Nov. 20 (Xinhua) -- The signing of the East Africa Community (EAC) protocol in Arusha on Friday is expected to spur economic growth in the region.

    The Common Market which shall be managed in accordance with relevant laws of the East African Community provides for the free movement of goods, persons, labor, services and capital.

    The common market further provides for the right of establishment, the right of residence, free movement of services and free movement of capital within the region.

    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.

    It is hoped that the agreement reached in the Tanzanian northern town of Arusha will lead to greater economic power for the region.

    The East Africans have a chance to gain from the recent discovery of oil in Uganda following the signing of the Common Market Protocol by the heads of the five states that form the East African Community.

    Uganda's President Yoweri Museveni told the meeting attended by five presidents at the meeting that marked the approval of the protocol that the oil belongs to East Africa.

    "The good thing about oil money, and I mean no offence to agriculture, is that it is more than that from agriculture and can be used for a lot of things. I will be talking to the rest of the heads of state about how East Africans can participate in getting some of that money and using that oil money," he said.

    The Ugandan leader said the oil money would be useful in the development of the region's infrastructure, seen as the most crucial part of efforts to come up with a unified political federation by 2015 and a monetary union by 2012.

    Kenyan President Mwai Kibaki together with Presidents Jakaya Kikwete of Tanzania, Paul Kagame of Rwanda, Yoweri Museveni of Uganda and Pierre Nkurunziza of Burundi signed the protocol whose negotiation commenced in April 2008 and concluded in September this year.

    The regional leaders' 11th Summit of Heads of State of the EAC also coincided with the 10th anniversary since the re-establishment of the regional body.

    It is envisaged that the common market shall accelerate economic growth and development of the partner states through the attainment of free movement of goods, persons, labor, services and capital.

    Under the protocol which is expected to become effective July 1,2010, the partner states are obligated to guarantee free movement of persons who are citizens of other member states as well as to ensure non-discrimination of the citizens of the partner states.

    East African nationals shall also enjoy the freedom to apply for employment, accept offers of employment and to move freely within territories of the partner states for the purpose of employment.

    National governments shall, however, limit the free movement of persons on grounds of public policy, public security or public health but must appropriately notify partner states.

    The five regional member states therefore committed to allowing entry of citizens of partner states without visa and to leave the territories without restrictions as well as being allowed to stay in the territory of partner states.

    President Kibaki in his statement called on EAC member countries to amend legislations that will give the region a uniform identity and create an impetus to the region's integration process.

    "I urge all to amend legislations that consider East African citizens as different nationals so as to give effect to this spirit," he said.

    The president noted that most residents of the region were in support of the federation of the East African countries and to particularly attain the desires of the regional inhabitants.

    "There is need for us, therefore, to take the appropriate steps so as to achieve the desires of our people on political federation," he said.

    He affirmed that the common market would unlock many benefits among the East African citizens in addition to driving the integration process to the next level of a monetary union.

    "The next stage of our integration is the Common Market. I am delighted to note that we are today going to make history by signing the Protocol that will usher in the Common Market for our East Africa region. The Common Market Protocol will be ratified after we sign it today," he said.

    President Kibaki commended the initiative of laying the ground for the next stage of the region's integration process of establishing the Monetary Union being spearheaded by the European Central Bank in collaboration with the East African Community Secretariat.

    "This study will be useful in informing the process towards the Monetary Union so that by 2012 the East African regional integration will enter the third stage of the roadmap," he said.

    President Kibaki, however, asserted that there was need to establish new institutions and hire additional skilled personnel to be able to deliver services and outputs in line with the E.A.C. Treaty and further highlighted on the urgent need for additional funding for the EAC institutions due to increased activities, projects and programs.

    During the summit President Kikwete of Tanzania assumed the position of EAC chairman from President Kagame of Rwanda.

    In his acceptance remarks President Kikwete thanked the regional heads for appointing him the chairman and promised to execute his duties to the best of his abilities and particularly to fulfill the vision of the East Africans.

    The Tanzanian leader further commended President Kagame of Rwanda for the able stewardship of the regional body during his tenure of office.

    President Kagame called on the regional heads to ratify the Common Market Protocol immediately to ensure it is implemented as scheduled from 1st July 2010.

    The Rwanda President noted that the protocol was one of the successes during his chairmanship and promised to support the incoming chair so that the aspirations and interests of the region are attained.

    "We are welcoming a new East Africa of common interests and aspirations. The experiences of the last 10 years have shown us that the borders separating us are superficial. It is now upon East Africans to accelerate the pace as the vision of the full integration is now within reach," said Kagame.

    He cited the joint military exercises conducted recently, one of which was dubbed Operation Mlima Kilimanjaro (Operation Mount Kilimanjaro) as one of the ways through which full integration of the region could be attained.

    The protocol also enables the free movement of labor, services, capital, goods, people as well the right of establishment, right of residence and the removal of internal taxes charged on goods and services entering from a foreign country.

    The five African leaders also laid the foundation for ultra modern head quarters of the East African Community in Arusha.

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