Facilitation of Trade will Ensure Prosperity for our People- President

Thursday, June 27, 2019

HUNAN PROVINCE, CHINA: President Yoweri Museveni has said partnerships especially around trade and trade facilitation will ensure global prosperity of nations which leaders must understand, adding however, that mutual support around trade must include infrastructure development such as roads, railway, electricity, ICT backbone, trained man-power etc.

“We need to cooperate in those areas so that trade is visible. The Province of Hunan is talking about industrial parks; I encourage that discussion so that the private sector in China can invest in Uganda using our framework of cooperation to produce goods and services to sell in Uganda, Africa and China. By doing so, you will be contributing to each others prosperity by creating jobs, expanding our tax base for revenue and using our raw materials,” he said.

The President was today meeting the Vice Premier of China H.E Hu Chunhua at the Multi-purpose function hall, Jiusuo Hotel in Changsha, Hunan Province in China. The President in in Hunan Province on a two-day working visit during which, he will officially open the China-Africa Economic and Trade expo and also give a keynote address. The expo is being held under the theme; “Win-win cooperation for closer china-Africa economic and trade partnership.”

President Museveni said he raised 12 areas of cooperation with President Xi Jinping including the standard gauge railway, Oil and tourism roads, industrial parks, irrigation for agricultural production, sports stadiums, markets access, Defence cooperation and party cooperation among other things and they agreed to bring these aspirations to high levels as comprehensive partners.

Premier Hu said trade is crucial for nations to grow, saying in the last twenty years trade between China and Africa has grown to over US$30billion and continues to expand.

He said the Chinese government is willing to encourage private investments in Africa and East Africa especially in Industrial parks, adding that they have already invested close to US$3.4billion in Uganda alone.

“We shall work together on infrastructure development. We are glad that you have attended all the three FOCAC summits and we appreciate the participation. We are glad that Uganda has confirmed participation in the economic summit in Shangai in November,” he said.

The President is accompanied by the Minister of Finance Matia Kasaijja, that of Tourism Prof. Ephraim Kamuntu, Uganda’s Ambassador to China Dr. Chrispus Kiyonga and the NRM Secretary General Justine Kasule Lumumba among others.