Gov’t committed to securing markets for local manufacturers – trade minister
The Commissioner Economic Devt Policy & Research at the finance ministry, Joseph Enyimu, revealed that the issue of non-tariff barriers remains a challenge.
The Minister of State for Trade, Industry & Cooperatives, David Bahati, has reiterated the government’s commitment to securing markets for local manufacturers through leveraging trade agreements such as the African Continental Free Trade Area (AfCFTA).
The minister said the African Continental Free Trade Area presents a vast market of more than 1.3 billion people, including Ugandans. He was speaking at the Manufacturing Sector Budget Dialogue held on Wednesday at Kampala Serena Hotel
“The East African Community (EAC) market is also available for manufacturers to make the most of. For its part, the government is working tirelessly to ensure harmonization of taxes across the region and seamlessly facilitate trade,” the minister said.
He advised that after the dialogue, Uganda Manufacturers Association should provide a report of these deliberations so that government can utilize the information during policy formulation for the next Financial Year 2024/25.
The minister’s advice was in response to claims by manufacturers that government never considers their views when coming up with the national budget and in the processes of formulating policies that impact the manufacturing sector.
Deo Kayemba, the Chairperson of Uganda Manufacturers Association in his opening remarks said government must critically look at their budgetary proposals for the next financial year.
Richard Mubiru of Uganda Manufacturers said government presents a 60% market of the National Budget’s value, equivalent to over Shs30 trillion, however, less than 10% of this potential market has been utilized due to the absence of a Local Content Regulation enforcing the Buy Uganda, Build Uganda (BUBU) policy.
Akello J. Tracey of Uganda Revenue Authority acknowledged that manufacturers are our biggest tax payers. She said the tax body is trying to get enough information about the taxpayers so that they can serve better and expand the tax base.
The Commissioner Economic Devt Policy & Research at the finance ministry, Joseph Enyimu, revealed that the issue of non-tariff barriers remains a challenge. “We have entered into trading blocs, yet the issue of Non-Tariff Barriers continues to affect manufacturers. How do we make stringent trade protocols that will hold partner states accountable?” he asked.
