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{
    "id": 496546,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/496546/?format=api",
    "text_counter": 53,
    "type": "speech",
    "speaker_name": "Hon. (Ms.) Kajuju",
    "speaker_title": "",
    "speaker": {
        "id": 840,
        "legal_name": "Florence Kajuju",
        "slug": "florence-kajuju"
    },
    "content": "observations on the Protocol for the establishment of the East African Community Monetary Union: One, the Committee noted the various benefits of establishing the East African Community Monetary Union. It said that it will provide benefits for the region’s economies such as an enhanced trade and investment, increased efficiency and wider market, the ease of price comparability and it is also a symbol of integration. One of the things we noted is that much as the various stakeholders had indicated that sensitization had been done at a wider level, that sensitization had not been done in as far as the Protocol was concerned, and if it was done, then it was not done adequately. Much more needs to be done within the ten-year period, so that East Africans get to understand and appreciate why we are moving towards the third pillar. The other issue noted is that the EAC partner States have not implemented fully the first two pillars of integration, that is, the common market and the customs union protocols. Considering that the integration process is a phased process, it will be important to ensure that the first two pillars are fully implemented before moving into the monetary union. This is because the treaty expressly states that the first two pillars must be fully implemented before we move to the third pillar, which we are seeking to ratify. What we are saying is that within the ten-year period the first two pillars must be fully implemented, so that we can have a common currency. We also talked about the legal implications and the Committee observed that the ratification of the East African Monetary Union Protocol will make it possible for the amendment of the Constitution of Kenya, the various financial laws and regulations to be in tandem with the Protocol. This will require the relevant State agencies to identify laws early enough to enable Parliament to carry out its legislation mandate. The Committee further observed that Parliament will not lose its constitutional mandate of budget-making with ratification of the Protocol. We also noted with concern that, the ratification process was hurried and, as a result, the Cabinet Memorandum forwarding the Protocol to Parliament was categorical that there is no room for reservations in ratification to the Protocol. This is against provisions of Section 8 (4) of the Treaty Making and Ratification Act, 2012. This explains why in our Committee recommendations we have dealt with the issue of inadequate time, lack of enough involvement of the Committee and Parliament in participation, so that we are able to make any reservations, recommendations or amendments, as it were. I will now read the Committee recommendations. Having considered the Protocol, examined the presentations from various stakeholders and pursuant to Section 8(4) of the Treaty Making and Ratification Act, the Committee recommends as follows: The House ratifies the Protocol for the establishment of East African Community Monetary Union. The Ministry of Commerce, Tourism and East Africa Region, the Ministry of Foreign Affairs and International Trade, the National Treasury, Parliament and all the implementing agencies should aggressively sensitize the public on the provisions of the Protocol in line with the tendency of people-centered integration process. Consequently, the National Treasury and Parliament should allocate adequate resources to the implementing agencies to facilitate adequate public sensitization. The Executive should fully involve Parliament from conception to ratification process of all the region integration instruments. This will mitigate against instances The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}