The Chinese Ambassador to Uganda, H.E. Zhang Lizhong, has assured Ugandans of support in exporting value-added products into the Chinese market.
Lizhong was addressing the delegates during the China (Changsha)-Uganda Investment Economic and Trade Promotion Event that was held on 25th April 2023, at the Kampala Serena Hotel.
The main objective of this conference was to further bolster bilateral cooperation between Uganda and the People’s Republic of China, specifically the sister-sister relations between Changsha City and Entebbe City.
“China and Uganda are good friends, good partners, and good brothers,” H.E. Lizhong said.
He revealed that in 2022, the economic cooperation between China and Uganda withstood the test of uncertain factors in the post pandemic era and showed a good momentum of steady progress.
“The bilateral trade volume rose by 6.6% against the trend, reaching 1.14 billion US dollars. China granted zero-tariff treatment for 98% of taxable items to Uganda and will support Uganda in exporting more value-added products into the Chinese market,” he said.
He added that a new direct flight between Entebbe and China’s Guangzhou is expected to be opened soon for trade facilitation and people-to-people exchange.
“Chinese enterprises remained enthusiastic about investment in Uganda. China’s direct investment in Uganda reached 131 million US dollars in 2022, ranking 10th among all African countries,” he added.
He said the two sides have made positive progress in investment projects in the fields of transportation, electricity generation and transmission, oil development, and industrial parks.
The promotion conference focused on showcasing Uganda’s investment opportunities in the areas of agricultural value addition, mineral development, and promotion of the 3rd China-Africa Economic and Trade Expo scheduled for June this year.
Hon. Okaasai Sidronius Opoloti, Minister of State for Energy, said that the conference presents a great opportunity for business enterprises under the Changsha Municipal Bureau of Commerce to partner with Ugandan enterprises under the Private Sector Foundation Uganda.
“I encourage Ugandan companies to leverage this opportunity to partner with Chinese companies so as to benefit in terms of technology transfer and financial strength. Chinese companies also have a global reach from which Ugandans can benefit,” he said.
Hon. Frank Tumwebaze, Minister of Agriculture, Animal Industry, and Fisheries; Hon. Okaasai Sidronius Opoloti, Minister of State for Energy and Mineral Development; and Amb. Elly Kamahunge Kafeero, Ag. Director Regional and Economic Affairs, represented the Government of Uganda.
