The Private Sector Foundation Uganda has rallied Ugandan business community to improve on the quality of their products in order to benefit from the recently established Africa Continental Free Trade Area.
Private Sector Foundation Uganda (PSFU) is Uganda’s apex body for the private sector. It’s made up of over 200 business associations, corporate bodies and the major public sector agencies that support private sector growth.
PSFU spearheads the articulation of private sector trade policy concerns with the objective of enhancing private sector participation in regional and international trade.
PSFU and United Nations Development Programme has commenced a mass awareness campaign to promote the ACFTA and strengthen the capacities of export ready enterprises in Uganda.
While appearing on a local radio talk show, PSFU CEO Stephen Asiimwe said “54 out of 55 countries have signed for the free trade area.
“The market is there. We must be efficient, reliable and maintain high standards if we’re to benefit from this market.”
“If you’re selling cement, a kilo is a kilo. It must be well packaged, clean and safe. A bag of cement is 50kgs not 45kgs and should contain real ingredients not sand. We need to stop being con men.” Asiimwe added.
It should be remembered that the African Continental Free Trade Area is a free trade area founded in 2018 and trade commenced on 1st January 2021.
It was created by the African Continental Free Trade Agreement between 54 of the 55 African Union nations.
The agreement aims at creating a single market for goods and services in order to deepen the economic integration of Africa.
With this Market, Africa will be in a better position to leverage its growing strength and unity to secure Africa’s rightful interests in the international arena.
The ACFTA is projected to raise Africa’s income by 7percent, lift 30 million people out of extreme poverty, and lift 68 million people out of moderate poverty by 2035.
The move by PSFU to create awareness and provide technical support to equip 250 export-ready enterprises in Uganda with knowledge, skills and tools to enhance their ability to access regional and continental markets will be a big changer to the business community of Uganda.
Ugandans should be ready and with the advancement in technology produce high quality products that can compete on the international market.