Strengthen intra-regional trade, Museveni tells EAC

President Yoweri Museveni. Photo | File

What you need to know:

  • Mr Museveni made the remarks during the launch of the week-long East African Micro, Small and Medium Enterprises Trade Fair at the Kololo Independence Grounds in Kampala on Sunday.

President Museveni has urged the East African Community member states to ensure that all trade barriers and tariffs affecting the transaction of goods and services within the region are waived to promote regional trade.

Mr Museveni made the remarks during the launch of the week-long East African Micro, Small and Medium Enterprises Trade Fair at the Kololo Independence Grounds in Kampala on Sunday.

 In a speech read for him by Prime Minister Robinah Nabbanja, the President said the independent disintegrated East African countries cannot achieve their trade goals unless they waive trade barriers and unfavourable tariffs which have continued to cripple the trade potentials in the region.

“For regional survival, we must integrate to create bigger markets. Africa with all its resources only contributes three percent to the global trade and it is because the colonialists divided Africa into smaller pockets of economies known as sovereign states/countries,” he said.

“Through the artificial borders by the colonialists, countries have continued to compete with each other over markets by creating tariffs and non-tariff barriers between ourselves. Therefore, we need to exploit and harness our competitive advantages by working in collaboration,” he added.

The East African Micro, Small and Medium Enterprises Trade Fair is an annual rotational fair which is being hosted by Uganda for the first time. It has been graced by more than 1,500 exhibitors from the seven East African partner states: Uganda, Kenya, Tanzania, Burundi, Rwanda, the Democratic Republic of Congo (DRC) and South Sudan.

Ms Nabbanja said the trade show is a great opportunity for exhibitors to showcase East African potentials in skills and technology advancements.

“Exhibitors at Kololo are coming from across the East African region. This is an advantage because all regional innovators and experts are going to be accessible in one place. The world will be in a position to have a variety of regional products,” Ms Nabbanja said.

She added: “The exhibitors should also use the trade fair to share knowledge and make connections. As Ugandans we should not miss this opportunity, let us visit Kololo to learn and also buy from the numerous exhibitors from East Africa”

The prime minister bought various products such as furniture, portraits and crafts, among others from at least one stall of the seven East African countries.

The Minister of Science, Technology and Innovation, Dr Monica Musenero, applauded the regional governments for supporting the trade show, adding that it will enable the region to recognise its trade competencies for wider opportunities.

“East African Community provides several business opportunities and it needs increased production and innovation to be able to meet the regional market demands. But I also urge the seven regional governments to remove the barriers for wide businesses and employment opportunities” Dr Musenero said.