During the recently Aligned Movement (NAM) summit in Kampala ,Ugandan President who is also the NAM chairman,General Yoweri Kaguta Museveni signed various trade agreements with various Heads of states from other countries. This means that we need to create a sufficient budget to aid the coordination and actualization of these agreements for the benefit of Ugandans.
Bilateral agreements are also called side deals between parties aiming to keep trade deficit to minimum. In these agreements there is elimination of of tariffs and trade related taxes in order to enjoy price advantage and increase market share in global markets . With such arrangements,These become opportunities for Private sector goods to penetrate global markets.For these to happen,there are a series of meetings and collaboration to ensure that there is an even ground to allow fair trade.
I was disappointed on tv when I watched Hon Nkunyingi Muwada,MP for Kyadondo East protesting the budget line requesting for FUNDS to help in the coordination and managing of the NAM affairs for the 3 years tenure of President Yoweri Kaguta Museveni as the Chairman of NAM. After making much gains in MICE infrastructure,the revenue and jobs created as short term benefits,we should continue stay alert to also harness long-term benefits like trade and investment opportunities,promotion of our national interests but also securing concession loans from member countries most especially when we are still in charge of Chairmanship of NAM.
Trade agreements can create opportunities for Ugandans and help to grow our economy . Those are lay out rules of the road for Ugandan companies looking to do business in mkts around the world by reducing barriers to Ugandan exports,protecting Ugandan interests among others. It is therefore imperative to use our NAM leadership role to achieve our exports target which will increase more jobs and foreign exchange.
LONG live Hajjat Uzeiye Namyalo,Long live President Yoweri Kaguta Museveni.
Ben Ssebuguzi is the Head of Research ONC
Do you have a story in your community or an opinion to share with us: Email us at editorial@watchdoguganda.com
