The EAC is a potential precursor to the establishment of the East African Federation, a proposed federation of its members into a single sovereign state.[7] In 2010, the EAC launched its own common market for goods, labour, and capital within the region, with the goal of creating a common currency and eventually a full political federation.[8] In 2013, a protocol was signed outlining their plans for launching a monetary union within 10 years.[9] In September 2018 a committee was formed to begin the process of drafting a regional constitution.[10]