Uganda Finally Signs A Bilateral Agreement With DR Congo

Posted by: lukwago J in Business November 9, 2019

President Yoweri Kaguta Museveni welcomes His Excellency Felix Tshisekedi, First Lady Denise and the entire Congolese delegation to Uganda. It is H.E. Tshisekedi’s second visit since he was elected. He said he needs to rectify the imbalance by visiting Kinshasa.

We have held serious discussions, whose key theme was how to make our people prosperous. We both agree that prosperity in this modern era comes from business. If a factory produces quality goods and sells more, it fetches more income, creates more jobs and more wealth,’said Museveni.

Africa is importing so much from other countries. We should stop that haemorrhage and increase our production. It will create more jobs for our youths, generate taxes for the government which in turn will provide services like roads, schools and hospitals,’he said.

Our countries have signed a raft of bilateral agreements but importantly we have stressed the need to improve the trade relations between Uganda and DR Congo.

Uganda and DR Congo will facilitate trade among themselves

It is important for nations to facilitate trade among themselves because it creates opportunities for citizens in terms of jobs, income and wealth.

Africa’s trade figures show that we are importing a lot from China, India, Japan and other places. This means we are supporting the prosperity of these countries and jobs for their children yet ours remain unemployed.

We need the market of the whole of Africa and avoid taxes at our borders. What we should concentrate on is the quality of goods and services. Internal markets alone are not sufficient to guarantee prosperity.

Uganda and DRC can for instance have a comparative advantage. If something is done better in Congo, we do it there and Uganda buys it, and vice versa. Then we get low-cost but high quality products.

I thank His Excellency Tshisekedi for honouring my invitation and wish him a fruitful stay in Uganda,’he added.

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