By David Muwanga

AFRICAN countries should increase productivity and intra-trade if they are to survive the global financial crisis, the trade state minister, Prof. Ephraim Kamuntu, has advised.

“This is necessary since the global financial crisis has hit most of Uganda and Africa’s large trading partners in Europe, the Middle East and the US,” he said.

He was responding to the latest International Monetary Fund projections for 2009, which say Africa will grow at 3.4% and sub-Saharan Africa at 3.5%.

Informal trade between Uganda and her five neighbour’s went up to $776m in 2007 from $231m.

“Uganda earns a lot from exports. Intra-Africa trade is increasing. This is what we need to increase because remittances and export earnings are to be affected negatively.”