The Independent Uganda: You get the Truth we Pay the Price
Kampala, Uganda | THE INDEPENDENT | The government has said that it is exploring new market opportunities within the Common Market for Eastern and Southern Africa-COMESA member states.
Uganda is currently facing a big challenge with key neighbors like South Sudan facing political unrest and the border closure by Rwanda. Some products from Uganda have also been rejected by neighbors like Kenya.
Uganda used to earn 200 million dollars before the closure of the Rwanda border.
Amos Lugolobi, the State Minister of Finance in charge of Planning says that they have started negotiating with the COMESA member states to start sending products. He says negotiations are already ongoing with Egypt.
COMESA has 19 countries including Comoros, Djibouti, Egypt, Eritrea, Ethiopia, Kenya, Libya, Madagascar, Malawi, Mauritius, Rwanda, Seychelles, Sudan, Swaziland, Uganda, Zambia, Burundi, the Democratic Republic of Congo, and Zimbabwe.
Lugolobi was speaking on Thursday while meeting MPs on the Parliament’s budget committee on the Charter for Fiscal Responsibility and the Economic and Fiscal Update.
According to Dickson Kateshumbwa, the Sheema Municipality MP, the trade deficit has widened in the country, especially looking at the developments in South Sudan, Rwanda and other East African countries.
Paul Omara, the Otuke County MP says that South Sudan has been Uganda’s biggest export destination with the export of as much as 65%, but it has fallen to 15%.
Lugolobi says that they are now exploring the North African markets like Egypt. He says that they will look at COMESA member states and strengthen ties and also trade with them.
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