Uganda’s President Yoweri Kaguta Museveni last evening received and held talks with the newly elected Democratic Republic Congo (DRC) President, Felix Tshisekedi at State House, Entebbe.
“The DRC President and his host, discussed trade, security and other bilateral issues between the two neighbouring countries,” State House said in a statement.
The development comes at a time when businesses in the region have incurred huge losses in the past month following the partial closure of the border crossing between Uganda and Rwanda at Gatuna, as relations between the two countries remain sour.
Rwanda’s relations with DR Congo aren’t any better. Analysts view DR Congo as a potential lucrative export destination for Uganda especially if prevails in Africa’s second largest country.
According to Bank of Uganda figures obtained by Business Focus, Uganda earned US$204.37m (Shs756.6bn) from exports to DR Congo in 2018, up from US$188.98m (Shs699.6bn) recorded a year earlier.
On the other hand, DR Congo earned US$158.95m (Shs588.4bn) in exports to Uganda in 2018, up from US$147.89m (Shs547.5bn) in 2017.
In the Common Market for Eastern and Southern Africa (COMESA) region, DR Congo is Uganda’s 4th top export destination after Kenya, South Sudan and Rwanda going by 2018 figures.
According to BoU figures, Uganda exported goods worth US$212.14m (Shs785.9bn) to Rwanda in 2018, up from US$180.8m (Shs669.8bn) in 2017.