Achieving the transition almost certainly requires intervention by public authorities through regulation and taxation. Early and coordinated action can help deliver a smooth transition for the economy. But if that intervention is delayed, the reduction in emissions may have to be sharper, resulting in a disorderly, disjointed and more disruptive transition for the economy.
Your Excellency, Ladies and Gentlemen, economic integration is a vital ingredient of the development and growth of the EAC economies. Elimination of border restrictions between Partner States to allow movement of people and goods will accord EAC economies larger markets; enhanced policy credibility across all spheres of economic management and better coordination and bargaining position in international institutions.