Uganda, China Trade Imbalanced
Mar 21, 2003
UGANDA’S exports to China increased tremendously in the last one year earning the country $5.6m, compared with only $1.2m earned in the previous year.<br>
By Raymond Mikah
UGANDA’S exports to China increased tremendously in the last one year earning the country $5.6m, compared with only $1.2m earned in the previous year.
“This is an increase of 353%,†China’s economic and commercial counselor Zhou Zhengcheng said recentlylast week.
Zhengcheng, however, said the Chinese products to Uganda earned $33m, up from $17.5m in the same period in the previous year, an increase of 92%.
ZhenCheng who paid a courtesy call to the Uganda National Chamber of Commerce and Industry President Olive Kigongo said there was need to find ways of increasing Uganda’s exports to China to off set bilateral trade imbalance.
“As you can see from these figures, there is trade imbalance between our countries that we need to be improve to benefit both countries†Zhencheng said.
“We are therefore looking for opportunities on what Uganda can export to China to improve the imbalance as our countries strengthen relations,†he added.
Kigongo said Uganda has rich potential in agricultural products that can be exported to China.
She asked the Chinese to guide them on what is needed in China.
“We have the potential to increase exports to China but we need your guidance on what is needed in China. We also want you to help us to sell Uganda more to China,†Kigongo remarked.
Zhencheng pledged to meet with the Chinese business community in Uganda to find ways on how to strengthen links between the two countries and encourage more Chinese investors to come to invest here.
Zhencheng invited Kigongo to visit China. He also promised to organise an exhibition of Chinese products in Uganda in future. Ends
UGANDA’S exports to China increased tremendously in the last one year earning the country $5.6m, compared with only $1.2m earned in the previous year.
“This is an increase of 353%,†China’s economic and commercial counselor Zhou Zhengcheng said recentlylast week.
Zhengcheng, however, said the Chinese products to Uganda earned $33m, up from $17.5m in the same period in the previous year, an increase of 92%.
ZhenCheng who paid a courtesy call to the Uganda National Chamber of Commerce and Industry President Olive Kigongo said there was need to find ways of increasing Uganda’s exports to China to off set bilateral trade imbalance.
“As you can see from these figures, there is trade imbalance between our countries that we need to be improve to benefit both countries†Zhencheng said.
“We are therefore looking for opportunities on what Uganda can export to China to improve the imbalance as our countries strengthen relations,†he added.
Kigongo said Uganda has rich potential in agricultural products that can be exported to China.
She asked the Chinese to guide them on what is needed in China.
“We have the potential to increase exports to China but we need your guidance on what is needed in China. We also want you to help us to sell Uganda more to China,†Kigongo remarked.
Zhencheng pledged to meet with the Chinese business community in Uganda to find ways on how to strengthen links between the two countries and encourage more Chinese investors to come to invest here.
Zhencheng invited Kigongo to visit China. He also promised to organise an exhibition of Chinese products in Uganda in future. Ends