African leaders push for single market

Seven heads of state and foreign ministers from 26 countries of the East African Community (EAC), Common Market for Eastern and Southern Africa (COMESA) and Southern Africa Development Community (SADC) gathered in Kampala for a Tripartite Summit.

‘A larger single market is indeed a path through which we can contribute to poverty alleviation and employment creation in our region. The benefits of a wider regional bloc are enormous,’ Kenyan President Mwai Kibaki said ahead of the meeting late Tuesday.

‘These include welfare gains for our people, increased efficiency in production, increased trade and investments, amongst others. All these can lead to increased employment and wealth creation.

‘We should therefore be steadfast in supporting our desire for a bigger regional bloc that can finally culminate into an African Economic Community,’ Kibaki said.

The blocs comprise 527 million people and a combined GDP of 624 billion dollars or 58 percent of the African Union's GDP.

One obstacle under discussion arises from countries having overlapping membership in the three blocs, presenting a barrier to the creation of a common customs union.

The leaders are trying to ‘help mitigate challenges of multiple membership being faced by the member states as well as pave the way for accelerated inter-regional economic integration,’ a statement said.

The summit comes as the continent grapples with the effects of steep food and energy prices as well as the impact of a credit crunch that has hit export markets around the world.

Attending the opening session Wednesday were presidents Yoweri Museveni of Uganda, Paul Kagame of Rwanda, Robert Mugabe of Zimbabwe, Kgalema Motlanthe of South Africa, Jakaya Kikwete of Tanzania and Kenya's Kibaki.