President Museveni recently inaugurated the Free Zones Export Facility at Entebbe International Airport, simultaneously launching Uganda's strategy for the African Continental Free Trade Area (AfCFTA). This strategy is designed to enhance trade both within the continent and globally. The president also flagged off the inaugural formal export of products to West Africa, expressing dissatisfaction with the slow pace of implementation by certain government sectors.
Museveni highlighted the importance of the AfCFTA, which Uganda, along with 44 other countries, became a signatory to in 2018. He underscored the necessity of faster action on trade agreements, citing that a significant portion of Uganda's value-added goods and services are traded within Africa. The president criticized the lack of urgency in addressing economic growth issues, which he believes affects the private sector's performance.
The collaboration with Nigeria, following discussions with President Bola Ahmed Tinubu, was acknowledged by Museveni, who noted the mutual opening of air space and market access under AfCFTA. He assured support for Uganda's trade representative in Lagos to facilitate market-opening efforts with Nigeria and the AfCFTA Secretary General in Accra.
Museveni reaffirmed the National Resistance Movement's (NRM) commitment to Pan-Africanism, emphasizing its role in fostering trade and building wealth across African nations. He also compared Africa's potential for economic success through intracontinental trade to the challenges faced by Latin American countries, attributing their struggles to a lack of regional trade.
Plans to establish similar export facilities across Uganda were disclosed, aimed at enhancing the efficiency of export processes. Museveni also mentioned the provision of a facility and land near the airport to support the export sector, specifically mentioning the coffee roasting, packaging, and exporting along with fruits, vegetables, and flowers.
The president issued directives to address delays in project implementations and emphasized the role of foreign investment in creating job opportunities for Ugandans. He highlighted the initial exports to Nigeria under AfCFTA, including dairy, coffee, fish, pharmaceuticals, and tea, and encouraged the exploration of tourism and investment opportunities with the Nigerian business community.
Museveni tasked investors with ensuring the Entebbe facility's success and recognized efforts to revive historical trade agreements. He called for increased production of high-value crops in areas with significant government investment in irrigation, offering support for export initiatives.
The president concluded by expressing gratitude to all stakeholders for their efforts to improve Uganda's market standing and assured investors of the country's cooperation. The Minister of Trade, Industry, and Cooperatives, Francis Mwebesa, provided insight into the history and potential of Free Zones in Uganda, emphasizing their role in attracting foreign investment and fostering economic growth.
Source: Nile Post