Ugandans should take advantage of the East African Community integration to do more cross border trade, the undersecretary in the Ministry for East African Affairs has said.
Daniel Mugulusi said it is now easier to do trade among regional countries since Ugandans only require a national identity card to be able to access markets in neighboring countries.
“Our neighbors have taken advantage of the East African integration and have set up businesses here. You too can do the same. For instance it is now easier to sell maize in Kenya than it was a decade ago,” Mugulusi said at an EAC awareness campaign dubbed Karibu East Africa.
The campaign is spearheaded by the Ministry of East African Community Affairs (MEACA) with the support from Trademark East Africa.
In a report released by Bank of Uganda and the Uganda Bureau of Statistics following a survey commissioned in 2012 on informal cross border trade, Uganda’s formal export earnings to EAC countries increased by 9.2 per cent to US$2,356 from US$2,159.1 in 2011, while informal exports amounted to US$ 453.7 million, representing a 27.5 percent increase compared to 2011when it amounted to 355.8 million.
According to the report, the highest growth of informal exports was to Tanzania which grew by 64.5 per cent, followed by exports to South Sudan which grew by 37.4 per cent. Rwanda and Kenya registered the least growth of 8.6 per cent increase and 15.1 per cent respectively. Read more. Source| East African Business Week