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Museveni stresses finished product trade with China

Museveni stresses finished product trade with China

President Museveni meets a delegation from the National People’s Congress of China led by the standing committee’s Deputy Chairman, H.E. Luosang Jiangcun, at State House Entebbe. (Courtesy photo)

Uganda’s President Yoweri Museveni has called upon China to broaden market access for the country’s finished goods, emphasizing the need for increased trade in processed products rather than raw materials. The plea was made during a meeting with a delegation from the National People’s Congress (NPC) of China, led by Deputy Chairman Luosang Jiangcun at the state house in Entebbe.

In a statement released by the state house, Museveni underscored the significance of China’s market for Uganda’s prosperity, urging for a shift towards a greater emphasis on finished products. He applauded China for allowing 400 products to enter the country without tax and limit, recognizing the vital role of such support in boosting economies.

“Africa’s challenge has been the export of raw materials, resulting in less income and job loss. It is important for China and Africa to engage in trading finished products more,” Museveni stated.

Reflecting on the historical support from China, the president acknowledged China’s continuous assistance to Africa’s development since 1949. He commended the Asian superpower nation for funding various projects in Uganda, including hydropower dams, the expressway, and cooperation with Huawei on the internet backbone.

Luosang expressed gratitude for Museveni’s commitment to China-Africa friendship and cooperation, praising his leadership in promoting peace and development in Africa. He conveyed China’s President Xi Jinping’s sincere greetings, highlighting the strong bilateral relations between Uganda and China.

China reiterated its commitment to supporting Uganda’s socio-economic development agenda and expressed support for Uganda hosting the Non-Aligned Movement (Nam) and G-77+China Third South Summits in January 2024. Although Jinping won’t attend in person, a high-level delegation will represent China.

The meeting, attended by Ugandan officials, primarily focused on strengthening bilateral relations and fostering cooperation between China and Uganda. Museveni’s appeal aligns with a broader strategy to enhance Uganda’s economic outlook by diversifying its exports and promoting value addition to its products.

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