Kampala, Uganda – Member of Parliament for Mbarara City North, Hon. Mwesigwa Rukaari, has called for deeper economic ties between China and Uganda during the China-Uganda Economic and Trade Cooperation Fair held in Kampala. Rukaari emphasized the importance of strengthening economic cooperation between the two nations, citing vast opportunities for trade and investment. He highlighted Uganda’s potential for growth in areas like agriculture, tourism, and infrastructure development, and encouraged Chinese investors to explore these opportunities.
Rukaari praised the existing economic partnership between China and Uganda, noting the significant impact of Chinese investment in Uganda’s economy. He expressed his commitment to supporting initiatives that promote economic growth and development in both countries.
The China-Uganda Economic and Trade Cooperation Fair aimed to promote trade, investment, and economic cooperation between China and Uganda. The event brought together stakeholders from both countries to explore new opportunities, strengthen existing relationships, and contribute to the growth of both nations.
Rukaari’s call for deeper economic ties resonated with the Chinese Ambassador to Uganda, Zhang Lizhong, who emphasized China’s readiness to support Uganda’s economic development. The ambassador highlighted the opportunity to increase agricultural exports to China, a significant market for Ugandan products.
Despite Uganda’s removal from the Africa Growth Opportunity Act (AGOA) and the World Bank’s halt on funding, China has reiterated its commitment to working with Uganda. China’s envoy to Uganda, H.E Zhang Lizhong, emphasized China’s commitment to inclusive globalization, supporting countries to pursue development paths suited to their national conditions.
Bilateral trade between China and Uganda has grown progressively over the last 10 years, from $600 million to $1.3 billion. Uganda’s share of this trade has grown by 19.6% to $70M. China is working to address the trade imbalance by offering zero-tariff treatment for up to 98% of Ugandan export commodities and collaborating with Uganda to stimulate production through cooperation in areas like infrastructure, industrialization, agriculture, and health.
China has invested in numerous industrial parks in Uganda, including the Liaoshen industrial park, Mukono industrial park, Shandong Industrial Park, Kehong China-Uganda Industrial Park, and Sino-Uganda industrial park in Mbale. This investment, along with additional support, is expected to increase Uganda’s export volume and improve its ability to meet local demand.
