Reduce trade imbalance with Uganda – Indian investors told

Former Energy and mineral development minister Daudi Migereko has urged Indian investors to make deliberate efforts towards reducing the trade imbalance between Uganda and India.

Migereko who was speaking at a function to mark 20 years of Tembo steel Works in Uganda, advised that the investors should market their products in the large Indian market.

The celebration took place at the company’s premises in Lugazi.

Migereko pointed out that demand for Ugandan coffee in India is high, but the supply is low, yet Uganda has a huge stock of coffee.

This, he said shows that the importation of coffee by India is very low. Which he said applies to other Ugandan products on that Asian market of over a billion people.

“When it comes to Uganda’s exports to India the figure is very low,” he said.

The Indian Ambassador, His Excellency Ajah Sanjiv Kumar, who was also the chief guest thanked President Yoweri Museveni for providing a favourable environment for investors.

Sanjay Awasthi, the Chairman of Tembo Steels Uganda, assured Ugandans of their commitment to continuous innovation and production of standard products.

Source: New Vision


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