Trade imbalance worries Museveni
Mar 06, 2005
PRESIDENT Yoweri Museveni has expressed concern over the huge trade imbalance between Uganda and the United Arab Emirates (UAE).
PRESIDENT Yoweri Museveni has expressed concern over the huge trade imbalance between Uganda and the United Arab Emirates (UAE), writes Joyce Namutebi.
He said the imbalance should be addressed. He encouraged UAE companies to start buying Uganda’s products, a press statement issued last week said.
This was contained in a speech read by Daudi Migereko, the tourism, trade and industry minister during a meeting with the Dubai Chamber of Commerce and Industry, recently.
“It is the view of the Government of Uganda that we must work together with the office of the rulers of Dubai and UAE plus the business community here to promote export of Ugandan products to Dubai,†Museveni said.
He said the advantage with getting Uganda’s goods to Dubai was that it is the shopping centre of the world.
Museveni said Uganda produces excellent coffee, tea, cotton, pineapples, banana fruits, and vegetables, among others.
“We would like to encourage or convince companies from here (Dubai) to start buying our products,†he said. He also encouraged them to invest in Uganda to participate in adding value to the various products before they are exported.
He said Uganda did not want to look for aid, but trade opportunities, market access and investors to facilitate value addition at home.
“He assured Dubai investors that, items produced in Uganda have assured market access in Europe under Everything But Arms arrangement and in USA under AGOA,†the release said.
Presently Uganda imports goods of over US$200m per year from Dubai. These include motor vehicles, electronics and textiles.
He said the imbalance should be addressed. He encouraged UAE companies to start buying Uganda’s products, a press statement issued last week said.
This was contained in a speech read by Daudi Migereko, the tourism, trade and industry minister during a meeting with the Dubai Chamber of Commerce and Industry, recently.
“It is the view of the Government of Uganda that we must work together with the office of the rulers of Dubai and UAE plus the business community here to promote export of Ugandan products to Dubai,†Museveni said.
He said the advantage with getting Uganda’s goods to Dubai was that it is the shopping centre of the world.
Museveni said Uganda produces excellent coffee, tea, cotton, pineapples, banana fruits, and vegetables, among others.
“We would like to encourage or convince companies from here (Dubai) to start buying our products,†he said. He also encouraged them to invest in Uganda to participate in adding value to the various products before they are exported.
He said Uganda did not want to look for aid, but trade opportunities, market access and investors to facilitate value addition at home.
“He assured Dubai investors that, items produced in Uganda have assured market access in Europe under Everything But Arms arrangement and in USA under AGOA,†the release said.
Presently Uganda imports goods of over US$200m per year from Dubai. These include motor vehicles, electronics and textiles.