The Deputy Speaker of Parliament, Thomas Tayebwa, has hailed the cooperation between Uganda and France within the areas of commerce, funding and diplomatic relations as a formidable uniting issue that should be fostered for additional development.
“We are trying ahead to growing the commerce volumes between our two nations and the European Union normally. We hope that the newly established chamber will even contribute to discount of the stability of commerce which stood at US$57 million in favor of France, in response to 2023/2024 figures,” stated Tayebwa.
Tayebwa made the remarks whereas talking at an occasion to commemorate Bastille Day, held on the residence of the French Ambassador to Uganda on Friday, 12 July 2024.
The Bastille Day is a French nationwide anniversary celebrated each 14 July to commemorate the 1789 storming of the Bastille, a serious occasion of the French revolution.
According to Tayebwa, the latest institution of the French Chamber of Commerce in Uganda on 04 July 2024, will galvanise the operations and impression of French corporations within the nation.
He referred to as for extra funding by French corporations within the areas of agro-industrialisation and agribusiness, mineral beneficiation of oil and fuel, and tourism improvement.
“Uganda is able to proceed enhancing the funding atmosphere to draw strategic traders and guarantee good return on their funding. French corporations in Uganda numbering over 40, are at the moment reputed to make use of round 3,000 Ugandans and immediately contributing strongly to income by taxation,” Tayebwa stated.
He additionally recommended France’s key function in sustaining peace and safety as a member of the United Nations Security Council, and referred to as for its assist for the African place on the Council.
“Uganda believes that Africa ought to have an even bigger voice on the Security Council. In this regard, Uganda would welcome France’s constructive voice and assist for the African place within the framework of the continuing discussions on the reform of the UN Security Council,” he stated.
The French Ambassador to Uganda, Xavier Sticker, highlighted the impression of investments by French corporations in Uganda, noting that their turnover at present exceeds 2 per cent of Uganda’s GDP in sectors like power, infrastructure, logistics, transport, engineering and agriculture.
“In 2023, they invested US$1.6 billion which is 53 per cent of the full international direct funding in Uganda. Over the following three years, they plan to take a position US$4.1 billion (Shs16 trillion), in response to the outcomes of a survey by France’s international commerce advisers in Uganda,” Sticker stated.
He additionally famous assist price greater than €800 million from French Development Agency (AFD) in sectors like water and power, together with deliberate supply in December 2024, of a serious water therapy plant and community that can provide water to 1,000,000 Ugandans from the border with Tanzania to Mbarara.
The French Ambassador lauded the Uganda-France partnership for peace and stability in East Africa.
“This is illustrated particularly by the cooperation between the UPDF and the French forces stationed in Djibouti, in assist of peace operations in Somalia and the Democratic of Congo. France additionally helps Uganda’s beneficiant refugee coverage and likewise offers meals support to Karamoja and West Nile,” stated Sticker.
