Kenya and Uganda pledge to boost trade, investment

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Kenya and Uganda

Kenya and neighboring Uganda will implement a joint framework to eliminate obstacles to cross-border movement of goods, capital and skills, officials have said.

Officials from both countries told a Kenya-Uganda agribusiness symposium in the coastal city of Mombasa on Thursday that uninterrupted flow of goods and services is key to boosting integration, shared prosperity and stability.

Betty Maina, Kenya’s cabinet secretary for industrialization, trade and enterprise development, noted that policy and regulatory reforms have been enacted to revitalize economic ties with Uganda.

She said Kenyan exports to Uganda, including manufactured goods, iron, steel, packaging material and pharmaceutical products, have remained steady despite the COVID-19 pandemic’s disruptions on regional supply chains.

According to Maina, Kenya’s exports to Uganda rose from 46.5 billion shillings (422.76 million U.S. dollars) in the financial year 2005/06 to over 848.26 million dollars in the 2020/21 financial year.

For his part, Uganda’s Minister for Trade and Industrialization Francis Mwebesa said that the elimination of non-tariff barriers has been prioritized to stimulate trade with Kenya.

He said Ugandan exports to Kenya, including agricultural products like maize, eggs, milk, dried legumes, animal feeds and sugar, increased from 155.28 million dollars in the financial year 2005/06 to over 617.34 million dollars by 2020/21.

The two countries are keen to share expertise in post-harvest management and agro-processing to boost the value of farm produce in overseas markets, Mwebesa said. Enditem

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