Cheng Zhigang , the Secretary General of China-Africa Industrial Forum addressing the conference
The Embassy of the Republic of Uganda in Beijing -China together with the Ministry of Foreign Affairs in collaboration with China Africa Industrial Forum organized a Uganda- China Trade and Investment Webinar.
The main objectives of the Webinar conference was to; • Highlight the investment opportunities and incentives in Uganda. Particular focus on Agro-processing and Agri-business, Health/ Medical equipment (Science Reasearch center for HIV Vaccine) and Energy (New- Energy car Industrial investment) . • Create awareness and generate interest among business enterprises in China to invest in Uganda. • Highlight products that Uganda imports from China and what Uganda can export to China. A number of Chinese enterprises in different sectors attended the event both online and offline where Uganda’s Investments opportunities were introduced as well as Uganda Imports/ Exports to china.
The Event is the first conference in a series of activities to be held this year as the two countries are celebrating 60 years Anniversary of the establishment of diplomatic relations between Uganda and China
Uganda and China enjoy cordial economic relations. In 2019, the relations were upgraded to the level of Comprehensive Cooperation Partnership. The Joint Commission on Trade, Economic, investment and technical cooperation (JCTEIT) is a framework of economic cooperation bilaterally.
Uganda also cooperates with China within the Belt and Road Initiative and the Forum China-Africa Cooperation (FOCAC). Under these initiatives, the Chinese government is financing a number of infrastructural projects in Uganda. During the recently concluded FOCAC that took place in Dakar, Senegal, in November 2021, China announced nine programmes to strengthen China-Africa Cooperation in different sectors and Uganda benefits from all these initiatives as China remains among the top source of FDI to Uganda, reaching 145,763.344 million U.S dollars in 2020/21. Bilateral trade has been on the increase, but much more needs to be done to export products from Uganda and reduce the trade deficit.
In the field of trade, China will open up a “green channel” for the export of African agricultural products to China, speed up the inspection and quarantine procedures, further expand the range of products enjoying zero tariff treatment in the underdeveloped countries with diplomatic relations with China, and strive to achieve a total import volume of 300 billion US dollars from Africa in the next three years.
Wang further informed of China’s provision $10 billion in trade financing to support African exports. China will encourage the establishment of a China Africa private investment promotion platform to provide consultation, project cooperation, park development and operation, risk prevention and control, logistics and supply chain services for Chinese private investors in Africa. Make full use of platforms such as China International Investment and trade fair to better display the African market and promote Chinese enterprises’ investment in Africa. China will support enterprises to implement railway, highway, port, airport, power and other projects in Africa to improve the infrastructure of the African continent. Other guests who made presentations included Martin Muhanji, Deputy Director Investment Promotion UIA, Stephen Asiimwe CEO, Private Sector Foundation Uganda and Brenda Opus, Senior Export Marketing Executive, UEPB who highlighted Uganda’s investment Opportunities, incentives and policies in the different Sectors and products that Uganda imports/ exports to China.
