KAMPALA, Uganda — Uganda’s Secretary to the Treasury, Ramathan Ggoobi, has pitched the country’s ambitious 10-fold growth strategy to the World Trade Organization.
Ggoobi led a delegation to the WTO Headquarters in Geneva, Switzerland, where he met with Deputy Director-General Zhang Xiangchen. He highlighted the importance of trade and development for Uganda and other Least Developed Countries.
“I wish to thank you for the WTO’s continued project support towards Uganda, including through the Aid for Trade Initiative and the Enhanced Integrated Framework,” Ggoobi said. “Uganda received $6.9 million comprising support to building the institutional capacity for trade; diagnostics; and strengthening the capacity of district commercial offices and productive capacity development in the tourism sector.”
The 10-fold growth strategy aims to transform Uganda’s economy through science, technology, innovation, and communication. It focuses on four key growth areas: agro-processing, tourism, mineral resource development, and science and technology transfer and creative economies.
Ggoobi briefed Zhang on Uganda’s progress in implementing the 10-fold growth strategy, which is expected to surpass 10% GDP growth in the initial years. He highlighted the country’s efforts to improve its business environment, invest in infrastructure, and promote tourism.
Deputy Director-General Zhang applauded Uganda on her path to achieving her development goals through digital transformation and for the ambitious target of the 10-fold growth strategy by 2040 the current DGP. He emphasized the importance of e-commerce and digital transformation as key elements to achieving such exponential ambition. They agreed that Uganda and WTO explore opportunities to support Uganda develop an IT ecosystem for the country share fully in the benefits that digital trade brings.
Zhang said that in view of the demographics of Uganda with a high percentage of youth, there is great potential in encouraging and developing a creative economy, citing examples from his own country of origin, China that to date relies heavily on creativity and digitalization, not only in basic Information Technologies, but embedding AI into critical sectors like Agriculture.
Mr. Zhang reiterated the readiness of WTO to work with Uganda.
