Uganda Assumes COMESA Leadership
Later this week, Uganda will assume the chair of the Common Market for Eastern and Southern Africa (COMESA), a development that trade experts believe will bring huge benefits to the country. Despite being a COMESA member, Uganda will for the first time also enter the free trade area (FTA) regime of the regional trade bloc. Joining the FTA means the tariff charges on the majority of imports and exports between Uganda and other COMESA states will drop to 2% from 10% compared to what is levied on goods from states like China except for sensitive goods. President Yoweri Museveni is …
Uganda to Sign COMESA Free Trade Area Treaty
Uganda will ratify the Common Market for Eastern and Southern Africa (Comesa) free trade area, according to Mr Mr Gerald Sendaula, the chairman of Private Sector Foundation Uganda. Mr Sendaula told Daily Monitor in an interview that the Trade minister had promised to sign the treaty before the end of the summit. He said initially signing the Free Trade Area protocol was not an urgent matter, however, Uganda has grown the capacity to favourably compete with other member states. The move is likely to favour Ugandan manufacturers who have grown their export capacity. It is likely to create a wider …
