A key focus of the upcoming summit will be the 'China-Africa Vision Cooperation 2035,' which aims to strengthen trade, boost industrial growth, and promote environmentally sustainable development.
As the FOCAC summit approachesUganda-China Trade and Cooperation
Uganda and China have a long-standing relationship, with trade between the two countries growing significantly over the past decade. In 2013, bilateral trade was valued at around $600 million. By 2023, it had more than doubled to $1.3 billion, with Uganda’s exports to China increasing by 19% to $70 million, according to the Chinese Embassy in Kampala.
China has played a key role in Uganda’s energy sector, financing and constructing two critical hydropower plants, Karuma and Isimba, under the Belt and Road Initiative (BRI).
Today, China is Uganda’s largest source of foreign direct investment, particularly in light manufacturing and agro-processing.
A Chinese entrepreneur from Guangdong Province who moved to Uganda after his furniture business faced challenges during the pandemic already has 300 local workers, and the company is now on a normal track.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.