The East African Community (EAC) would enter into a Common Market Protocol on July 01, 2010. However, the actualisation of the Protocol may take a while as the process will require a review of national laws which at the moment do not conform to the EAC Common Market Protocol.
Kenyan investors have been eagerly awaiting the signing of the Protocol as they hope to take up the business opportunities offered by the integration. The bloc will create a market of close to 130 million people and a combined gross domestic product of US$80bn, making it one of the largest trading blocs in Africa.
The Protocol has already been ratified by member states. It opens door for free movement of goods and persons as well as providing for the rights of establishment, rights of residence and free movement of services and capital as agreed by member states, removing all restrictions to these rights. However, there are still areas of the Protocol that need to be looked into with trade.