Deputy Speaker of Parliament,Thomas Tayebwa has expressed deep appreciation for the Chinese government’s pledge of US$51Bn to Africa over the next three years, emphasizing the potential of such funding to uplift livelihoods across the continent.
Speaking during a meeting with the Financial & Economic Committee of China’s National People’s Congress, Tayebwa highlighted the need to address the trade imbalance between Uganda and China, noting that Uganda’s exports to China remain far lower than imports from the Asian giant.
“President Xi Jinping pledged to offer US$51Bn to Africa for various programs in the next three years which will be broken down to cover credit lines, other assistance, and investments by Chinese companies. This support will go a long way in improving the livelihoods of the people in Africa… ensuring the development of both countries,” Tayebwa said.
He also reaffirmed Uganda’s commitment to maximizing the benefits of its strong, historical bilateral relationship with China, describing it as a Comprehensive Cooperative Partnership. “As Parliament, we shall make sure the responsible government departments receive all the necessary support required to fulfill our country’s obligations,” he added.
Tayebwa acknowledged China’s tariff-free market access to 98 Ugandan products but underscored the need for more balanced trade. He cited data from the Bank of Uganda showing Uganda’s exports to China, including fish, hides, timber, and coffee, totaled US$94.93M, while imports from China stood at US$1.817Bn.
“We need to increase our exports to China… Uganda has yet to start exporting beef, pepper, and aquatic products despite having exchanged protocols,” Tayebwa emphasized.
The Deputy Speaker also lauded China for its contribution to Uganda’s healthcare, particularly the Shs4Bn anti-malaria drug donation, and urged for collaboration to boost Uganda’s tourism sector. “Tourism is one of the biggest foreign exchange earners for Uganda… We hope your visit will help raise the profile of Uganda in China as a destination for Chinese tourists,” he remarked.
Minister of State for Finance, Henry Musasizi, echoed Tayebwa’s sentiments, urging the Chinese government to support Uganda’s ambitious economic growth agenda. Musasizi emphasized Uganda’s plan to expand its economy from US$55Bn to US$500Bn by 2039, with key areas of focus including agriculture, tourism, minerals, oil and gas, and innovation.
“We have been on the growth trajectory since 1986, and I want to thank China for the cooperation… Your growth rate has an economic impact on Africa’s growth rate, and I want to thank you for contributing to Uganda’s economy,” Musasizi remarked.
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