Minister hints on law to boost consumption of local products
Posted Thursday, October 10 2013 at 01:00
SMEs were advised to add value to their products in order to become competitive in the local and foreign markets.
With Uganda International Trade Fair closing today, the Trade Minister, Ms Amelia Kyambadde, says she is concerned that the services industry, particularly the commercial banks have not fully taken advantage of the event to show case what they have in store.
According to Ms Kyambadde, service industry players ought to embrace such initiatives (trade shows) for it avails them opportunities to showcase, and get instant feedback on their products. She said: “I have noticed a decline in service industry participation. For example, I have not seen many banks except one or two banks and the NSSF.” She continued: “We need to find out what is happening.”
The minister also took notice of the participation of several Small and Medium Enterprises (SMEs) but expressed concern over dismal participation of corporate companies. She was, however, delighted with participation of regional countries and other foreign exhibitors from all over the world, saying that that is a sign of confidence in the country’s economy.
To have an advantage over the regional and international exhibitors, Ms Kyambadde said the SMEs must add value to their products—especially the agricultural produce—although she also took note of the absence of the SMEs dealing in agro-processing at the trade show.
Commenting on the low attendance by show goers, Ms Kyambadde said: “There has been a general financial squeeze that has also impacted the exhibitors—beyond just the show goers.” Ms Kyambadde revealed that there is bill (a law in the offing) that will make public to purchase Ugandan made products ahead of the foreign/imported goods.