Breaking

Museveni Urges Traders to Shun Second Hand Products

The President said that the money spent on imports can be used to build factories and assembly plants within the country. He said assembly plants ensure that people get quality products, freight charges are reduced and jobs are created.
Museveni adressing members of the Business community in Entebbe
President Yoweri Museveni has urged Ugandan traders in Uganda to promote Uganda's exports for economic growth and job creation saying the country loses a lot of revenue in imports.

The President said that the money spent on imports can be used to build factories and assembly plants within the country. He said assembly plants ensure that people get quality products, freight charges are reduced and jobs are created.

He said the country now depends heavily on imports from China and India which earn about 800million US dollars and 900Million US dollars respectively from Uganda businesses while Uganda earns only about 57million US Dollars , a trade relation he described as unequal.

“It is time for us to stop the hemorrhage of resources from our country. That kind of money we spend on imports can build about 40 factories in Uganda and create over one million jobs,” Museveni told importers of second hand commodities at State House, Entebbe last evening.

"Magendo is no more, but imports are too high and that's why I have called you so that we can deliberate on this issue," he said.

The meeting comes at the backdrop of a resolution to outlaw the importation of used clothes and shoes across the East African Region. The resolution is part of the industrialization policy fostered by the various East African Heads of State to transform the manufacturing sector in member states. It will also restrict importation of used motor vehicles.

Through the policy, the presidents resolved to reduce the importation of used motor vehicles from outside the community by promoting motor vehicle assembly in the region and promote the textile and leather industries by stopping importation of used clothes, shoes and other leather products.

The President urged the traders to come up with suggestions on how government can best implement the policy in the best way possible and report back in a similar meeting in a period of three weeks.

"We discussed this as Member States of the EAC in Arusha, but me I said let me first go and talk to my people before coming up with this new policy. Government is not going to impose this policy on our people without giving them time, this will take a period of say five years," he said.