Category: Press Releases

President Museveni has discouraged a political integration at the Common Market for Eastern and Southern Africa (Comesa) level, saying it is “unrealistic”. According to the President, it does not make sense for the 19 Comesa members to federate politically. “At the EAC (East African Community) we are doing the economic integration and then move to a political federation. But for Comesa, it should be economic integration because political federation is unrealistic,” he said. Mr Museveni made the remarks on Friday while addressing the 16th Comesa Heads of States Summit at the Commonwealth Speke Resort- Munyonyo. The Summit was organised under …

Leaders of the Great Lakes region and COMESA member states after attending the 5th Extra ordinary summit at Munyonyo. Member states of the Common Market of East and Southern Africa (COMESA) have resolved to fast-track the implementation of joint infrastructure projects in railways, energy, roads and ICT to boost regional development. This was contained in the final statement issued on Saturday at the end of the 16th COMESA Summit of Heads of State and Government in Kampala. The nine-day event was held at the Speke Resort Munyonyo under the theme: “Enhancing intra-COMESA trade through micro, small and medium enterprise development.” …

Six presidents have confirmed participation in next week’s COMESA heads of state summit to be held on November 23, 2012 in Kampala. Amelia Kyambadde, minister of trade, industry and cooperatives on Thursday announced that presidents Mwai Kibaki ( Kenya), Salva Kiir (South Sudan,) Paul Kagame (Rwanda,) Pierre Nkurunziza (Burundi), Robert Mugabe (Zimbabwe) and Joyce Banda(Malawi )will attend the presidential summit while Eritrea, Ethiopia, Comoros, Swaziland, Seychelles and Zambia will be represented by their vice presidents. Cabinet last Wednesday approved a recommendation by the minister of trade for Uganda to join the Common Market for East and Southern Africa (COMESA) free …

President Yoweri Museveni on Friday assumed chairmanship of the Common Market for Eastern and Southern Africa (COMESA) regional economic bloc. Museveni takes over from the outgoing President Joyce Banda of Malawi who handed over the chairpersonship during the 16th summit of the COMESA heads of state and government. The summit taking place at the Speke Resort Munyonyo will close on Saturday, and is taking place under the theme, “enhancing intra-COMESA trade through micro, small and medium enterprise development.” President Museveni in his address said that African economies are too divided up, which undermines their profitability and countries cannot attract foreign …

The African heads of state meeting in Kampala is today expected to adopt a report on regional trade, arising out of a meeting of the Council of Ministers. The spokesperson of the foreign affairs ministry, Elly Kamahungye, said the council had met earlier and completed a report, which makes key recommendations on a number of issues, including regional trade. Kamahungye yesterday said the heads of state will discuss how to move the Common Market for East and Southern Africa (COMESA) economic bloc forward after most member states ratified the Free Trade Arrangement (FTA). “The FTA means that member countries have …

The eighth Comesa Business Forum closed yesterday November 21st 2012, leaving behind both the good and bad news. The good news is that Uganda is now a member of the Comesa Free Trade Area (FTA) and the bad news is that — depending on how Uganda plays the ball – it could end up as a dumping ground for regional products. With FTA, there will be increased trade among member states and a wider market that provides several varieties in goods traded. And the country’s private sector will not only access more than 400 million people, but do so without …

The private sector has lauded the Government for ratifying the COMESA free trade area, saying it will open huge markets for the country. The Private Sector Foundation boss Gideon Badagawa described the decision as a good development for trade and investments. “Now that the Government has pronounced itself, we will go full scale to sensitise our members,” said Badagawa over the weekend. Cabinet last week approved a recommendation by the minister of trade for Uganda to join the COMESA free trade area (FTA). The decision makes Uganda the 15th COMESA FTA member, opening up the opportunity for increased trade competitiveness …

Uganda is set to enjoy a 50% increase in export revenues after Cabinet yesterday approved a recommendation by the minister of trade for Uganda to join the COMESA free trade area (FTA). The decision effectively makes Uganda the 15th COMESA FTA member and opens up the opportunity for increased trade competitiveness mainly through increased earnings from exports. Trade minister Amelia Kyambadde last week said that with the ascension to the 19 member trade bloc FTA, exports are expected to grow by an average of 50% annually. “In the COMESA region, DRC is Uganda’s second largest market after southern Sudan at …

COMESA businessmen are converging today Tuesday 20th November 2012 in Kampala to discuss how to promote small and medium enterprises development in the region. The 8th business forum under the theme: ‘Enhancing Intra-COMESA Trade through Micro, Small and Medium Enterprise Development; Seizing opportunities for Innovation and Prosperity in Business’ will take place at the Commonwealth Speke Resort Munyonyo. About 900 delegates are expected to attend the forum, which will culminate into the leaders’ summit, where the heads of states from the 19 member states will endorse the proposals. Hon Amelia Kyambadde, the Minister of Trade, Industry and Cooperatives, said micro, …

Uganda has joined the COMESA Free Trade Area . This is in accordance with the National Trade Policy, the National Development Plan and 2011 NRM Election Manifesto, which prioritized regional integration and enhancing market access for Ugandan goods and services. On the exogenous front, it was established that the major impediment to Uganda’s deeper penetration of the regional market was her non-membership of the COMESA Free Trade Area. By remaining outside of the COMESA Free Trade Area, Uganda’s exports to main export market were being subjected to taxes on importation into those countries. This made Uganda’s products less price competitive, …