Bukenya Wants Export Industries
Jul 30, 2003
VICE-President Gilbert Bukenya said yesterday Africa must build dynamic export industries capable of producing high value goods, which can be sold on the world market if it is to develop.
By Emmy Olaki and Steven Odeu
VICE-President Gilbert Bukenya said yesterday Africa must build dynamic export industries capable of producing high value goods, which can be sold on the world market if it is to develop.
Bukenya, in a speech read by the Prime Minister Apollo Nsibambi on Wednesday, said this is the way to diversify African economies, improve productivity, create jobs and fight poverty.
This was during the official opening of the three-day conference of the working party of African governors of the international monetary fund and the World Bank at Speke Resort Munyonyo.
He said while economic reform initiatives like exchange rate liberalisation and reduction of trade barriers have been undertaken by many African countries to boost exports, Africa’s full participation in international trade remains curtailed.
“Trade restrictions on some of Africa’s most important exports, especially agricultural exports, remain a great hindrance. We welcome, AGOA and the EU’s ‘anything but arms initiative to reduce some direct trade barriers, but this is not enough,†he said.
He said many equally damaging trade barriers remain in place, citing the huge subsidies paid by the taxpayers of the US and EU to their domestic farm industries, which he said continue to undermine Africa’s participation.
Ends
VICE-President Gilbert Bukenya said yesterday Africa must build dynamic export industries capable of producing high value goods, which can be sold on the world market if it is to develop.
Bukenya, in a speech read by the Prime Minister Apollo Nsibambi on Wednesday, said this is the way to diversify African economies, improve productivity, create jobs and fight poverty.
This was during the official opening of the three-day conference of the working party of African governors of the international monetary fund and the World Bank at Speke Resort Munyonyo.
He said while economic reform initiatives like exchange rate liberalisation and reduction of trade barriers have been undertaken by many African countries to boost exports, Africa’s full participation in international trade remains curtailed.
“Trade restrictions on some of Africa’s most important exports, especially agricultural exports, remain a great hindrance. We welcome, AGOA and the EU’s ‘anything but arms initiative to reduce some direct trade barriers, but this is not enough,†he said.
He said many equally damaging trade barriers remain in place, citing the huge subsidies paid by the taxpayers of the US and EU to their domestic farm industries, which he said continue to undermine Africa’s participation.
Ends