Ministry of Trade courts COMESA for more funding

Kampala, Uganda | THE INDEPENDENT | The Ministry of Trade, Industry, and Cooperatives is seeking more funding from the COMESA secretariat to strengthen Uganda’s trade infrastructure and facilitate its integration into regional markets.

Trade Minister Francis Mwebesa says that Uganda is developing project proposals to benefit from a 48.2 million Euro grant that was extended to the bloc by the European Union to facilitate the Trade Competitiveness and Market Access program which aims to enhance the trade competitiveness of COMESA Member States.

The program will address global challenges such as climate change and promoting sustainable trade practices. Part of the money will also be used to enhance the competitiveness of service enterprises including those operating through digital platforms.

Mwebesa was speaking during a meeting with the COMESA Secretary General, Chilese Mpundu Kapwepwe who is currently in Uganda to oversee various COMESA-funded projects being implemented in the country.

Kapwepwe, who arrived in Uganda on Monday, warmly received Uganda’s proposal for funding, highlighting its active role within the regional trade bloc, which has led to the implementation of several projects by the secretariat in the country.

The COMESA Secretariat is presently aiding the livestock, fisheries and leather sector, as well as the leather hub at MTAC Nakawa. It has previously supported the construction of trade infrastructure at various border crossings such as Katuna, and Busia, through the Regional Integration Implementation Project.

Kapwepwe stressed the importance of trade facilitation and stated that the COMESA Secretariat will persist in aiding the country in enhancing its border infrastructure and other key areas that support regional trade.

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The Secretary-General highlighted that in the past, the secretariat has primarily supported the trade of goods, but it is now extending its support to facilitate the trading of services among member states. She further urged Uganda to fully engage in this endeavour to broaden trade opportunities with other states.

She also invited Uganda to participate in facilities being established through the African Development Bank to assist member states in developing a robust pharmaceutical sector. However, she cautioned that the initial programs are focusing on regulations and quality assurance, emphasizing the sector’s sensitivity.

During the visit, Kapwepwe and her delegation, comprising officials from the Trade and Customs Office and the Resource Mobilization Office, will visit the Leather Incubation Centre in Nakawa and engage in discussions with top management at the Ministry of Trade.

The COMESA boss is expected to meet President Yoweri Museveni and brief him on the progress of different regional integration initiatives and projects led by the COMESA Secretariat among other businesses regarding regional trade.

COMESA offers Uganda market access to 21 member states, boasting a combined GDP exceeding USD 800 billion and representing half of Africa’s population. From 2018 to 2022, the bloc consistently stood as the major export destination for Uganda’s exports. With membership, Uganda enjoys duty-free and quota-free exports to member states, resulting in a trade surplus of USD 721.7 million with COMESA as of 2023.

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