Uganda-DRC trade to grow by 15 percent

A joint team of government of Uganda and the DR Congo officials led by the Ministers of Infrastructure and Public Works, Gen. Katumba Wamala and Alexis Gisaro respectively handed over the Project-road sites to the contractor DOTT SERVICES LTD on December 4, 2021.PHOTO/ COURTESY 

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Speaking at the event to announce the Uganda-DRC business forums in Kinshasa and Goma, Trade Minister Francis Mwebesa, said trade between Uganda and DR Congo has been growing since 2017, noting that it was now time to explore more trade potential between the two countries

The Ministry of Trade has projected that total trade between Uganda and DR Congo are expected to grow by 15 percent annually for the next five years.

The growth, the Trade Ministry said yesterday, will be realised following admission of DR Congo into East African Community.

Speaking at the event to announce the Uganda-DRC business forums in Kinshasa and Goma, Trade Minister Francis Mwebesa, said trade between Uganda and DR Congo has been growing since 2017, noting that it was now time to explore more trade potential between the two countries.

“Our latest statistics [show that] by 2021, trade between the two countries stood at $ 687m up from $ 479m in 2017,” he said, noting that the two countries have been working together to improve trade, through a joint agreement, in which Uganda agreed to support construction of a 223 kilometer road project linking the two countries.

The roads, among others are expected to boost cross border trade, improve security, connectivity and deepening integration.

Mr Stephen Asiimwe, the Private Sector Foundation Uganda executive director, said the entry of DR Congo into EAC provides the Uganda business community with an opportunity to trade in a market that has a population of more than 90 million people.

“We can maximise trade by developing deeper links between domestic producers and external markets such as DR Congo. The country has over 90 million people, which provides a big opportunity,” he said.

The 10-day business forums will include government and private sector delegations that will discuss government to government, government to business and business to business linkages.

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