UTN News

INDIA PREMIERE PLEDGE TO ENHANCE TRADE IMBALANCE IN UGAND

BY Babirye Rose Nagawa and Namuli Daphine

The visiting Indian Prime Minister Narendra Modi has pledged to enhance trade and investment between Uganda and India as a means of addressing the trade imbalance between the two countries.

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Narendra Modi revealed this during a joint press conference after holding bilateral talks with President Yoweri Museveni at State House Entebbe.

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The Premiere Modi said both Uganda and India can mutually benefit from each other once Trade imbalance is addressed.

The Premier Modi who arrived in Uganda on Tuesday 24th July 2018 was received by his host President Museveni at State House, Entebbe where the Premier Modi was treated to a 19-gun salute and inspected a guard of honor mounted by the Uganda Police Force.

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The duo noted that although the trade volume between Uganda and India stands above US$700 million, Uganda’s exports to India were US$44 million last year adding that they had agreed to do all it takes to bring about favorable terms of trade.

President Museveni pledged to increase accessibility of Uganda products to the Indian market on competitive terms and boosting tourism between Uganda and India through attracting Indian tourists to Uganda.

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The two leaders also revealed that India had offered a US$200 million dollar line of credit to Uganda that they could use to support areas that are capable of boosting export oriented production in Uganda such as agro-processing and agro-machinery, among others.

The Visiting Premier announced a donation of modern cancer equipment to Mulago Cancer Institute adding that several Indian health care providers were interested in putting up specialised hospitals in Uganda which was welcomed by his host President Museveni.

He is this morning meeting MPs at Parliament.

. Report complemented by Nanyonga Edith

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News

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By UTN Reporter

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