Finance Minister Henry Musasizi has met with the Chinese Ambassador to Uganda, Wu Guangrong, at the Ministry of Finance, Planning and Economic Development, where the two officials agreed to strengthen reciprocal trade and investment ties between their countries.
The meeting, held on Wednesday morning, focused on opportunities available for both nations in the areas of trade and investment, with the ultimate goal of strengthening bilateral relations.
Musasizi thanked the Chinese Ambassador for strengthening bilateral cooperation between the two countries and for attracting Chinese investors into Uganda. He acknowledged China’s commitment to aligning with Uganda’s Tenfold Growth Strategy by supporting the ATMS framework (Agro-industrialisation, Tourism, Minerals, and Science, Technology and Innovation) and its enablers.
The Minister welcomed the proposal to set up the China-Uganda Agricultural Cooperation Industrial Park in Luwero, adding that Uganda would be pleased if China supports irrigation financing in the country to address issues of climate change. He also thanked China for supporting the health sector, infrastructure development, and relief aid to the people of the Karamoja sub-region who were affected by drought.
The Chinese Ambassador said China-Africa relations have continued to deepen with increasingly close economic cooperation, adding that China encourages more capable and reputable companies to invest and do business in Uganda. Ambassador Wu noted that Chinese enterprises are increasingly contributing to Uganda’s BUBU (Buy Uganda, Build Uganda) Initiative.
He also reaffirmed China’s commitment to the zero-tariff treatment policy, urging Uganda to use it to export more goods to China. The policy is expected to open new opportunities for Ugandan exporters, particularly in agricultural products and other value-added goods.
The meeting underscores the strengthening economic ties between Uganda and China, with both countries seeking to expand trade and investment cooperation. The proposed China-Uganda Agricultural Cooperation Industrial Park in Luwero is expected to boost agro-industrialisation, create jobs, and enhance value addition in Uganda’s agricultural sector.
As Uganda pursues its ambitious goal of growing the economy tenfold to $500 billion by 2040, partnerships with strategic allies like China are expected to play a critical role in mobilising investment, technology, and market access.
